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Pan-American Introduces 401(k) Liability Program

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NU Online News Service, Sept. 24, 11:50 a.m. – Pan-American Life Insurance Company, New Orleans, is now offering a fiduciary liability management program for employers that use its 401(k) plan services.

When employers participate in the program, Pan-American will assume joint responsibility with the employers for any fund selections made by sponsors that take and act on all of its investment evaluation and selection advice.

Pan-American is also amending its agreements with money managers so that it will be able to serve as a fiduciary for plan sponsors that use its investment evaluation process.

Pan-American developed the evaluation process with help from Standard & Poor’s Investment Services, New York.