id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
inlawrev-3715	Weiss, Kimberly Lynn	Directors' Liability for Corporate Mismanagement of 401 (K) Plans: Achieving the Goals of ERISA in Effectuating Retirement Security	2005	43	.pdf	application/pdf	21168	1118	52	, the court analyzed the employee savings plan and the ESOP congruently finding that the allegations that the employer, management committees, officers, and directors had power to appoint, retain, and remove ERISA plan fiduciaries; that they exercised discretionary authority of appointment over management or administration of plans, and that they failed to insure that selected fiduciaries complied with their fiduciary duties, were sufficient 2005] EFFECTUATING RETIREMENT SECURITY 839 inaction, the Plans lost much of their value and thousands ofparticipants were left with uncertain futures. To prevent litigation based on the allegation of de facto control, the board members should appoint only independent plan administrators who are free from any conflicts of interest concerning plan investments.	cache/inlawrev-3715.pdf	txt/inlawrev-3715.txt