Private Pensions: Fulfilling Fiduciary Obligations Can Present Challenges for 401(k) Plan Sponsors
Description:
A letter report issued by the Government Accountability Office with an abstract that begins "American workers increasingly rely on 401(k) plans for their retirement security, and sponsors of 401(k) plans--typically employers--have critical obligations under the Employee Retirement Income Security Act of 1974 (ERISA). When acting as fiduciaries, they must act prudently and solely in the interest of plan participants and beneficiaries. The Department of Labor (Labor) is responsible for protecting…
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Date:
July 16, 2008
Creator:
United States. Government Accountability Office.
Partner:
UNT Libraries Government Documents Department