¶ … trustees' actions, requiring the company plan to pay additional fees to the detriment of the interest of the pensioners, may have been abhorrent and unethical, strictly speaking according to the letter of the law, they were not a violation of the specific terms that are covered under ERISA. First of all, ERISA "does not require any employer to establish a pension plan. It only requires that those who establish plans must meet certain minimum standards. The law generally does not specify how much money a participant must be paid as a benefit." (ERISA, "Compliance Assistance," 2005) Nor does it specify that the pension must be of a certain amount, and is not subject to change, dependant upon the whims of the market and other commercial demands. If the employer does maintain a plan, ERISA merely requires that the employee who is eligible to become a part of the pension plan is informed when he or she is "allowed to become a participant, how long you [the employee] have to work before you have a non-forfeitable interest in your pension," if such...
According to the plans original terms, as specified, there was no initial agreement that a certain, stipulated sum had to be paid as part of the pension that could not be forfeited, or if the business dealing delineated in the plan varied from ERISA.
Company audit occurs when there is need to examine the performance of a big company especially the financial and the accounting records over a given period of time. Professionals such as the certified public accountant always do the auditing. The audit of a company is significant in the verification of accuracy particularly in the accounting records. A company like coca cola will need an audit to help in verifying their
HR Plan: Philips Academy Andover Introduction The Human Resources (HR) department of any organization is the spine of the entity. This is where the integrity of the company needs to reside, and where the team members can be protected from potential abuses of power. Abuses of power are more common than most people care to admit, and are one of the reasons that HR was born in the first place. As history
Pension Plan Being Qualified What are the permitted pension benefit plans? What is the problem? What is the solution? The end result The paper shall first inform that when any individual chooses a pension plan he should try to choose a plan that is qualified as the growth in value of the investments inside the plan are not taxable till the amounts are distributed to the investor, the contributions made by an employer to
Forming a Bank Holding Company - Structure, Governance, and Regulations Understanding Banks Forming and Expanding a Bank Holding Company Financial Holding Company Requirements BHC Regulations Capital Building Options for Bank Holding Companies Pros and Cons of Forming a Bank Holding Company Stocks and Governance Corporate Governance and Banking Law The Role of Bank and Holding Company Audit Committees Data Gathering Method Database of Study Summary, Conclusions and Recommendations Forming a Bank Holding Company - Structure, Governance, and Regulations This research paper describes the process
These claims are virtually all based on the concept that corporations - particularly multinationals -- should be held accountable for their actions within their sphere of operations. "Corporations, for their part, have responded in numerous ways, from denying any duties in the area of human rights to accepting voluntary codes that could constrain their behavior" (Ratner, 2001, p. 436). In fact, this very point is echoed throughout the literature; for
As a result, the trustee representation in American has not served the nation's interests since representatives have continued to work for their personal interests. Actually, these representatives continue to strictly support the best interests of their political party and corporate sponsors ("Who is the Boss?" par, 6). The main reason attributed to the tendency by politicians to serve the interests of their political party and corporate sponsors at the expense
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