“The appeal of company stock as an investment option in defined contribution plans could dim considerably if the Department of Labor succeeds in having the U.S. Supreme Court revisit the issue of fiduciary prudence in managing that option….
Scott Macey, president and CEO of the ERISA Industry Committee in Washington, which represents corporations on benefit issues, said: ‘Many, many plans across the country have employer-shares funds. If they have to worry about the constant threat of litigation because of variations in stock prices, I can see them getting scared away.’ ”
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Scott Macey, president and CEO of the ERISA Industry Committee in Washington, which represents corporations on benefit issues, said: ‘Many, many plans across the country have employer-shares funds. If they have to worry about the constant threat of litigation because of variations in stock prices, I can see them getting scared away.’ ”
To read more, click here.
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