{
  "id": "RL31282",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "RL31282",
  "active": false,
  "source": "EveryCRSReport.com",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 105165,
      "date": "2002-04-29",
      "retrieved": "2016-05-24T20:11:16.246941",
      "title": "Tittle v. Enron Corp. and Fiduciary Duties Under ERISA",
      "summary": "Since November 2001, it has been reported that at least thirty-eight individual claims and three\nclass\naction suits have been filed under the Employee Retirement Income Security Act (\"ERISA\") against\nthe Enron Corporation, a Houston-based energy producer and trader. In general, these claims allege\nthat fiduciaries of the Enron Corp. Savings Plan, a 401(k) plan established by Enron for the benefit\nof its employees, breached their fiduciary duties to participants and beneficiaries of the plan. Many\nparticipants and beneficiaries lost substantial amounts of retirement savings when the value of Enron\nstock plummeted. The company stock, representing 62 percent of employee retirement savings plans\nholdings and trading at $90 a share in November 2000, fell to less than a dollar a share when the\ncompany sought bankruptcy protection in December 2001.\n  As Congress considers legislation to address concerns raised by the Enron 401(k) plan, this\nreport provides background on existing fiduciary duties required by section 404(a) of ERISA. \nSection 404(a) is considered the \"touchstone for understanding the scope and object of an ERISA\nfiduciary's duties.\" The report will review selected cases that have interpreted section 404(a) and\ndiscuss bills introduced during the 107th Congress that would amend section 404(a).",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
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          "url": "http://www.crs.gov/Reports/pdf/RL31282",
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          "images": null
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      ],
      "topics": []
    }
  ],
  "topics": [
    "American Law",
    "Domestic Social Policy"
  ]
}