DOL, Thelen Trustee Near Deal On Pension Administrator

Law360, New York (February 13, 2012, 2:25 PM EST) -- The U.S. Department of Labor said Friday that it's close to settling a dispute with Thelen LLP's Chapter 7 trustee over the appointment of a new administrator for three Thelen pension plans — a job that the trustee presently handles.

Both parties felt an independent fiduciary for the plans was necessary, but the DOL said trustee Yann Geron breached fiduciary duties under the Employee Retirement Income Security Act by selecting his own firm, Fox Rothschild LLP, to provide services to the plans for a fee, according...
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