Coronavirus (COVID-19) News and Resources
Coronavirus (COVID-19) Webcasts
Subscribe to Free Daily Newsletters
Post a Job

Featured Jobs

Director of Regulatory Affairs

Health Plans Inc
(Westborough MA)

Health Plans Inc logo

Retirement Plan Administrator

Steidle Pension Solutions, LLC
(Lebanon NJ)

Steidle Pension Solutions, LLC logo

Retirement Plan Consultant

DWC - The 401(k) Experts
(Telecommute)

DWC - The 401(k) Experts logo

Senior Plan Consultant

Jocelyn Pension Consulting
(Telecommute / San Rafael CA / Boulder CO)

Jocelyn Pension Consulting logo

Retirement Plan Administrator

SPS
(Telecommute)

SPS logo

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Get the BenefitsLink app LinkedIn
Twitter
Facebook

<< Previous news item   |   Next news item >>



The Ambushed Fiduciary: Does Authority Over a Corporate Bank Account Cross the Line?
Osler, Hoskin & Harcourt LLP Link to more items from this source
Sept. 16, 2014

"[T]his officer had nothing to do with running the plan, and ERISA contemplates that a fiduciary (other than an investment adviser) is someone with discretion or control over plan administration or plan assets. This officer had neither in the common understanding of those terms simply because he was a signer on a corporate account, though the court accepted the [DOL's] argument that the unpaid employee contributions were plan assets. In fact, since it required two signatures to act for the account, this officer was unable to unilaterally even direct the contributions." [Perez v. Geopharma, No. 8:14-cv-66-T-33T (M.D. Fla. July 25, 2014)]

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2020 BenefitsLink.com, Inc.