September 18, 2008
FYI: Effects of Market Turmoil on Retirement Plans
By Cindy Van Bogaert
Here is your latest FYI: Employee Benefits
Update from Cindy Van Bogaert, Partner and Chair of the Employee
Benefits Practice Group at Boardman Law Firm LLP.
This FYI addresses some steps to take given some of the recent negative reports about some large companies. Plan fiduciaries should consider whether some of the retirement plan holdings may be affected. I suggest contacting your investment provider for a current update on the status of the funds and the effect, if any, of the recent market news (e.g., regarding AIG and other companies). Remember that documentation of the review is important. Also, consider whether communication to participants may be in order.
I recently answered a question about this in my BenefitsLink
Please contact me if you would like more information.
This FYI is not legal advice. Individuals should seek advice based on their particular circumstances from their own counsel. Nothing in this FYI is intended to be used, and no information can be used, for the purpose of avoiding penalties under the Internal Revenue Code, or promoting, marketing, or recommending to another party any transaction or matter addressed in this FYI.
If you have any questions or need assistance, please contact Cindy Van Bogaert at (608) 281-7543 or Email.
Would you like to have FYI: Employee Benefits Update sent directly to your e-mail inbox? If so, please send your request, with e-mail address, to Cindy Van Bogaert at Email.