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Subject:  Re: Employer Did Not Invest Contributions Date:  2/24/2000  12:08 PM
Author:  UALPilot Number:  2505 of 19741

Thank you for your reply.

According to my daughter DOL does not care how the contributions were invested. In this case the employees had no alternative investment options (i.e. the monies were put in the plans and the trustees were supposed to invest it visa via a 401(k) plan where you have alternatives). Thus the fiduciary responsibility lies with the trustees.

From what she has explained to me and the cod information that she has shown me the ERISA code says that the fiduciaries responsibilities are to

Section 1104 (a)(1)(B) of ERISA "with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a lik