Posts tagged Benefit Plan.
“Employer securities” in retirement plans have been the source of a significant amount of litigation under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In general, “employer securities” are common stock issued by an employer of the employees covered by the retirement plan. In many cases, “employer securities” are traded on a national exchange which is registered with the U.S. Securities and Exchange Commission (the “SEC”).
In relevant part, ERISA Section 404 contains an exclusive purpose requirement which requires a ...
Posted in: Nonprofit Organizations and Benefit Plans