As you might be aware, fiduciary liability insurance and ERISA fidelity bonds are not one and the same. Both serve to mitigate risk for fiduciaries, and both are critical aspects of an employee benefit plan. However, it’s important to understand the differences between these two safety nets, as well as the degree to which your plan should be protected by each.
The adoption agreement is your guidebook on the features associated with your retirement plan, and is something you and your administrative team should be very familiar with. It is critical that you follow the rules in your adoption agreement to help ensure the Plan stays compliant.
Because ERISA trumps most state laws that relate to employee benefit plans, both pension and welfare, the question was whether Maine’s law required employers to provide a benefit that would be subject to ERISA.
On May 25, 2018 U.S. District Court Judge Jorge L. Alonso rendered a decision in Divane v. Northwestern University granting defendants’ motion to dismiss.
Once Upon a Time… in the 1980’s to be more specific… there were a lot of hostile acquisitions of publicly traded corporations. Grumman Corporation was the target of one of these hostile take-overs; Mr. Bierwirth was its CEO. The aggressor was LTV Corporation.