Nicholas Pension Consultants
Nova 401(k) Associates
The Retirement Plan Company (TRPC)/an ABG firm
ERISA Services, Inc.
Compensation Strategies Group, Ltd.
Creative Pension Consultants, Inc.
Atlantic Pension Services Inc
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|A Lurking Trap for Corporate Officers|
Winston & Strawn LLP
June 18, 2015
"Plan participants constitute a ready-made class of individuals, creating the potential for large damage awards for any drop in stock price.... ERISA is a personal liability statute.... [T]he first two steps all corporations should take to reduce the risk of potential liability to their officers and directors are:  Remove from the plan fiduciary committee all Section 16 officers and others who tend to receive inside information; and  Cause the company's directors or compensation committee members to delegate away as much fiduciary authority (and potential liability) as possible."
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