Discusses the implications of Employee Retirement Income Security Act (ERISA) for an employee seeking full document disclosure in the United States. Details on ERISA, highlighting its basic structure and the plans that can be constructed under the statute; Information on court decisions regarding ...
A Single Premium Immediate Annuity (sometimes referred to as an "SPIA") may be the right annuity for you if you are looking for payments that begin right away and continue for the rest of your life or for a specified period of time. The annuity is purchased from an insurance company ...
It makes perfect sense that Lucent's subsidized annuity will pay you more per month than the amount you would get if you applied the $437k premium to an insurance company annuity. Here's why: For the past 40 years, since ERISA was enacted in 1974, the vast majority of retirees who ...
What is an employee stock ownership plan? At its core, an ESOP is an ERISA-authorized retirement plan that invests in employee securities. Company stock is either issued or sold to an employee trust. As a result, ESOPs enable closely-held companies to sell equity, at an independent valuation...
Operation in accordance with the plan document:The employer has to prepare a plan document. It must state what types of contributions and benefits are available. The plan then has to work as it says it does. Compensation limits:The maximum compensation for each employee that can be taken into...
Because qualified plans have annual limits, many companies offer additional nonqualified plans for their highly paid employees. A nonqualified deferred comp plan (NDCP) is not an ERISA plan. It can be offered to only a select group of employees, such as just the founder or the...
Every retirement or benefits plan under ERISA must name at least one fiduciary in the written plan document. Afiduciaryis someone who acts with the responsibility of care for the money, property, or interests of someone else. A plan may have several fiduciaries, including a trustee, an investme...
Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsoli...
What Is a Pension Plan? A pension plan is an employee benefit that commits the employer to making regular contributions to a pool of money set aside to fund payments to eligible employees after they retire. In the United States, traditional pension plans, known asdefined-benefit plans, have ...
In terms offiduciaryduty, the plan administrator has a duty to act in the interest of the plan's participants, not the company that employs them.1Typically, the administrator is not an employee but instead, a third-party contractor.