More ERISA lawsuits filed . . .

“Employees vs. executives: BellSouth, Scientific-Atlanta sued over management of company retirement plans“: MSNBCNews reports that ERISA lawsuits have been filed against BellSouth Corp. and Scientific-Atlanta Inc. The article mentions the Enron and Worldcom lawsuits (which have been discussed here previously) and how all of these cases have brought an increased focus on the role of ERISA fiduciaries. The article also mentions the trend, particularly among the airline industry, of hiring independent fiduciaries to oversee plan investment decisions to avoid having the executives make these decisions “with all the conflict of interest that entails.”