More Restrictions For ERISA Fiduciaries

Law360, New York (August 20, 2013, 12:02 PM EDT) -- Assume the following: Your client is a beneficiary of a pension plan in a public corporation that has just gone bankrupt. He has lost his pension, his ability to retire in financial safety and much of his life savings; he is worried to sickness about his future.

Your investigation suggests that the trustees of the pension plan knew, or, had they done an investigation of the company before they continued to invest in its stock, would have learned, that the company was in dire financial straits....
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