Fiduciary Counselors Inc. Serves as Independent Fiduciary for $1.4 Billion Annuity Placement
WASHINGTON, Oct. 1, 2014 /PRNewswire/ -- Fiduciary Counselors Inc., a leading independent fiduciary services firm, is pleased to announce that it served as the independent fiduciary for the Bristol-Myers Squibb U.S. Retirement Plan's purchase of a group annuity contract backed by a separate account from Prudential Insurance Company of America to settle approximately $1.4 billion of the plan's pension obligations.
"We consider ourselves fortunate to have had the opportunity to represent the interests of the plan and its participants in the purchase of this group annuity contract and to ensure that the annuity selected complied with the fiduciary standards of ERISA," said Jack Miller, President and CFO of Fiduciary Counselors. "We believe this placement enhances Fiduciary Counselors' position as the leader in providing independent fiduciary services to plans settling benefit obligations through annuity purchases." Fiduciary Counselors was advised by Hewitt EnnisKnupp, Inc. and K&L Gates LLP. Fiduciary Counselors has served as the independent fiduciary for the purchase of annuity contracts totaling $9.7 billion for seven pension plans including those of Verizon, Enron, Visteon and Bristol-Myers Squibb.
About Fiduciary Counselors Inc.
Fiduciary Counselors Inc. is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The firm, comprised of both investment professionals and ERISA lawyers, primarily acts as an independent fiduciary for employee benefit plans, offering solutions for a broad range of fiduciary and investment issues.
Contact:
Mr. Jack Miller
President & CFO
Fiduciary Counselors Inc.
(202) 558-5134
Email
http://www.fiduciarycounselors.com
SOURCE Fiduciary Counselors Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article