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Insurance

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Today's pension retirement plan leaves much for concern

Article Abstract:

The current inadequate retirement plan system is examined. The solution could be the Fiduciary Audit Protection Program, which assists employers to establish self-audit internal control procedures to identify and correct errors in operational compliance.

Evaluation

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No breach of fiduciary where plan had substantial surplus

Article Abstract:

The lawsuit,which deals with financial plans between Minnesota Mining and Manufacturing company (3M) and Granite Corporation, a hedge fund company is discussed. The Eighth Circuit Court of Appeals ruled in favour of 3M.

Manufacturing industry, Manufacturing industries, 3M Co., MMM, Hedge funds

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Formal plan documents control over SPD

Article Abstract:

The judgment of the U.S. District Court for the Southern District of New York, with regard to the variance in retirement scheme's official records with the plan's summary plan description (SPD), is presented.

New York, District courts

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