Tuesday, April 26, 2011

CFOs to Face 401k Liability

CFOs could face liability as 401(k) fiduciaries

Chief financial officers who act as a fiduciaries for their companies' 401(k) plans could face lawsuits if participants are given the option of investing in employer stock, lawyer Jeff Mamorsky writes. Plaintiffs may argue that a CFO violated the fiduciary duty following a significant drop in the stock's price. The solution is to establish an independent process before deciding to include company stock in a 401(k) plan.

CFO.com
http://www.cfo.com/article.cfm/14570747/c_14571432

Victor Lloyd Smith
vsmith@mlgcap.com
917-653-4406

Build Your Legacy
www.LegacyCapitalBook.com

--------------------------------
Sent on the Sprint® Now Network from my BlackBerry®

0 Comments:

Post a Comment

<< Home