Labels:bird | book | reckoner | sky OCR: Council on Life Insurance ("ACLI"), Pue the Life Insurance Counsel of New York ("LICONY}. This case presents the question of whether the fiduciary pro- tections of the Employee Retirement Income Security Act of 1974 29 U.S.O 61001 et ("ERISA"): extend to pension plan assets deposited in insurance company general accounts. Ir this case, the Retirement Program and its successor, the Unisys Pen- sion Plan (the "Plan' deposited funds with Hancock under group annuity contract, GAC 50 While portion of the funds under GAC support guaranteed benefits for Plan beneficiaries, significant portion of GAC 50`s assets (the tree funds sodns no benefits whatsoever. With to the free funds H ancock is acting as an investment manager and not an insurer The exemption from ERISA's fiduciary provisions only ext ...
(.png)
