Supreme Court Ruling on 401(k) Held Employer Stock – Practical Considerations
Stroock partner Steven Rabitz will be a guest speaker at Pacific Global Advisors' webinar discussion: "Supreme Court Ruling on 401(k) Held Employer Stock – Practical Considerations."
Since Enron's demise more than a decade ago, hundreds of lawsuits have been filed alleging a violation of ERISA when employer stock held in a 401(k) plan declines in value. The Supreme Court, in a closely watched case, replaced a helpful standard for weeding-out meritless lawsuits (a fiduciary's presumption of prudence) with a new standard that could be even more helpful.
If your 401(k) plan has an employer stock investment option or is considering adding employer stock, the plan’s policies, procedures, service providers and governance structure should be reviewed in light of the Court's holding to determine if any changes are warranted to further protect the plan.
Pacific Global Advisors will be discussing the specific steps plans should consider taking. The program will take place on Thursday, August 7.
To register, click here.