Fiduciary Counselors
 

Fiduciary Counselors Inc. is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.

Fiduciary Counselors has acted as independent fiduciary for ERISA plans with respect to class action settlements  in both securities and ERISA class actions. For more info about our independent fiduciary services in litigation settlements, please click here.

ERISA Class Action Settlement Clearinghouse  
  What's New
 

The SEC has established “Fair Funds” to distribute money obtained in settlement of the mutual fund trading scandals.  Distribution plans have now been approved for the following Fair Funds:
   

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Banc One Investment Advisors
   
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 Columbia Management Advisors,
   
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 Massachusetts Financial Services Company (MFS)
   
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 Pilgrim Baxter
   

Fiduciary Counselors has created this website to provide information on what ERISA plans need to do with respect to class action settlements under ERISA or securities laws.

ERISA Settlement Data
The site includes information on past ERISA settlements, to help plan fiduciaries and litigators evaluate future settlements.

DOL Guidance
The Department of Labor (DOL) has issued two significant pieces of guidance to assist plan fiduciaries in dealing with settlements:

  
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 Prohibited Transaction Exemption 2003-39 covering litigation settlements generally  
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 Field Assistance Bulletin 2006-1 dealing with distribution of settlements resulting from the mutual fund scandals    
       
 

Other publications related to ERISA settlements:
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 "ERISA and Litigation Settlements Involving Employer Securities and Mutual Funds," (PDF) Reproduced with permission from BNA Pension & Benefits Reporter, August 1, 2006). Copyright 2006 by The Bureau of National Affairs, Inc. (800-372-1033).
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 "Understanding DOL’s New Class Exemption for the Release of Claims and Extensions of Credit in Connection With Litigation," (PDF) Reproduced with permission from BNA Pension & Benefits Reporter, January 13, 2004). Copyright 2005 by The Bureau of National Affairs, Inc. (800-372-1033).
 
Fiduciary Counselors Inc.   .:.    One Metro Center    .:.     700 12th Street NW, Suite 700    .:.     Washington, DC 20005
To Contact Fiduciary Counselors, please click here