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Asked in CA May 26, 2022 ,  0 answers Visitors: 1

ERISA Law

is it illegal for an administrator to loan monies from a retirement pension plan to certain co-workers and carry the note on a real estate investment? Wouldn't this be a conflict of interest?

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3 Answers

Anonymous
Reply

Posted on / Mar. 15, 2007 13:19:00

Re: ERISA Law

It would have to be with a lot of due diligence, discloures and paperwork to avoid being improper. If the plan loses money, he would be at risk of personal liability. If you have been harmed by this, being a participant in the plan that lost money, or stands to lose money, then you could consider suing him on behalf of the plan participants. Contact me if so.

Anonymous
Reply

Posted on / Mar. 15, 2007 13:19:00

Re: ERISA Law

It would have to be with a lot of due diligence, discloures and paperwork to avoid being improper. If the plan loses money, he would be at risk of personal liability. If you have been harmed by this, being a participant in the plan that lost money, or stands to lose money, then you could consider suing him on behalf of the plan participants. Contact me if so.

Anonymous
Reply

Posted on / Mar. 15, 2007 13:19:00

Re: ERISA Law

It would have to be with a lot of due diligence, discloures and paperwork to avoid being improper. If the plan loses money, he would be at risk of personal liability. If you have been harmed by this, being a participant in the plan that lost money, or stands to lose money, then you could consider suing him on behalf of the plan participants. Contact me if so.

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