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United Airlines 401(k) Plans
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About two months before United Airlines
(UAL) filed for bankruptcy, Fiduciary Counselors was retained as independent
fiduciary for the UAL Stock Fund which was an investment option in United's
three 401(k) plans. Fiduciary Counselors first action was to direct the
trustee to stop purchasing UAL stock. Fiduciary Counselors was able to sell
all of the UAL stock before UAL filed for bankruptcy. Fiduciary Counselors
had worked with the trustees to transfer the cash portion into the default
option in each plan and notified participants that the funds were available
for reinvestment. |
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Some articles about the
transaction: |
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"At United, a Lock on Stock Sales" |
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"UAL'S 401(K) Plan Merger No Longer Holds UAL
Stock" |
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© 2008 Fiduciary Counselors Inc.
All rights reserved. |
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