The Enron And Lucent Cases: Responsibilities For Employer Stock

Topics:
Stock Options
Tags:
Benefits,
Lucent Technologies Inc.,
Investment,
Human Resources,
Finance,
Fiduciary,
ERISA,
Enron Corp.,
Employer Stock,
Stock
Source:
Aspen Publishers

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Overview: From the executive summary: ‘Employee Retirement Income Security Act (ERISA) requires that plan fiduciaries should monitor the investments in 401(k) plans, including employer stock. Although the standard for the review may not be clear but the fiduciaries must periodically review the investment for its suitability for participant direction and should not ignore evidence indicating that the employer stock is no longer appropriate for the plan. Moreover, the fiduciaries have an affirmative duty to investigate the quality of the stock as an ongoing investment, to hire independent experts when needed, and to act on the results of the activities.’ The paper throws light on the responsibilities for employer stock.

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Format: HTML | Date: Apr 2002 | Pages: 1

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