ERISA Basic Elements
The rule that mandates holding plan assets in a separate account
What is the trust requirement?
The best-practice governing body for the plan
What is the Committee?
Lawsuits alleging that the plan's investment funds that are too expensive
What is fee litigation?
An ERISA pension plan that results in a deferral of income
What is a DC plan?
The basic operational rules such as funding, claims, etc.
What is plan administration?
A written record of Committee discussion and decisions
What are meeting minutes?
Lawsuits alleging that the plan should not have held company stock
What is stock drop litigation?
An ERISA pension plan that provides retirement income
What is a DB plan?
The party identified in the plan document as liable
Who is the named fiduciary?
The policy that protects a plan administrator from liability
What is fiduciary insurance?
Lawsuits alleging that the funds put social or environmental goals ahead of performance
What is ESG litigation?
An example of a plan that is exempt from ERISA
What is a church/government/tribal plan?
The rule that requires an employer to write down the plan terms
What is the written document rule?
The document that sets forth Committee rules
What is a Committee charter?
An ERISA term that is frequently litigated
What is prudence?
An example of an ERISA plan that is not tax-qualified
What is a top hat plan?