401(k) Providers Seek an Edge in Slicing Transition 'Blackouts'
American Banker (04/30/02) ; Ackermann, Matt

In the wake of the Enron scandal, providers like Mellon and MassMutual are responding to their customers' demands for reduced "blackout" periods during transitions of retirement plans. Congress has also responded by considering a bill that would repeal the legal "safe harbor" that protects employers and fund managers from liability if plan participants suffer losses during a blackout. Supporters say current technology has the power to eliminate blackouts, but critics feel blackouts are a normal and necessary part of transitions.

Back   |  IRA.com Home   |  News Archive