| DOL Sues ESOP Fiduciaries for Inflated Price of Purchase |
| The owner of Sentry Equipment Erectors, Inc. sold his shares to the plan at $406 per share, much greater than prices at which participants had previously sold their shares.
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| Time to Standardize the Language of Auto-Features |
| Common “auto” plan design terms often mean different things to different clients—even within the same company or plan committee.
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| Actuary Makes the Case for Variable Benefit Plans |
| Variable benefit plans have been around for decades, according to Matt Klein, a principal and leader of the actuarial services practice at employee benefits consulting firm Findley Davies in Cleveland. However, few sponsors and advisers know much about them, he says, estimating that there are fewer than 100 of these types of plans in the United States.
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| Compliance Consult: The Last 10 Years |
| The last decade has clearly seen a rise in class action lawsuits under ERISA, which have left widespread implications, especially for 401(k) plan sponsors. Of particular note are lawsuits focusing on the inclusion of employer stock as an investment option under a participant-directed 401(k) plan—what are now known as “stock drop” suits.
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