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®
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®
posted by Victor Lloyd Smith @ 12:32 PM
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