ERISA Case
Carter Hawley Hale also is known as a famous case study regarding its retirement plans. Because it offered its employees a profit-sharing plan, and not a retirement fund, under the Federal ERISA pension plan law, the trustee was under no obligation to diversify the fund. Because of the nondiversification and continued purchase of Carter Hawley Hale stock, the employee fund soon was stuck with a precipitous loss in value. Its employees’ low morale contributed to its problems.
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Famous quotes containing the word case:
“I often used to think myself in the case of the fox-hunter, who, when he had toiled and sweated all day in the chase as if some unheard-of blessing was to crown his success, finds at last all he has got by his labor is a stinking nauseous animal. But my condition was yet worse than his; for he leaves the loathsome wretch to be torn by his hounds, whilst I was obliged to fondle mine, and meanly pretend him to be the object of my love.”
—Sarah Fielding (1710–1768)