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president of FUH, petitioner presided over four meetings of the
executive committee of FUH where the committee approved revisions
to the FUH plan and agreed to use FUH plan assets to buy
additional policies under the program. From 1983 to 1985, as
president of FUH, petitioner signed various FUH plan documents,
including the FUH plan pension trust agreement,3 several
amendments to the FUH plan, a revision of the FUH plan, and a
Form 2848 authorizing Fantasia to represent FUH before the IRS
for tax matters relating to the FUH plan.
Petitioner was a fiduciary of the FUH plan because he
exercised discretionary authority and control regarding the
management of the FUH plan and the management and disposition of
its assets. Sec. 4975(e)(3)(A).4
2. Whether Petitioner Was an Officer or Director or
Individual Having Similar Powers
Petitioner argues that he is not a disqualified person under
section 4975(e)(2)(H) because, as president of FUH, he did not
have or exercise powers or responsibilities similar to those of
3 Petitioner also signed the FUH plan pension trust
agreement as a trustee of the FUH plan.
4 Sec. 4975(e)(3)(A) provides:
(3) Fiduciary. For purposes of this section,
the term "fiduciary" means any person who--
(A) exercises any
discretionary authority or
discretionary control respecting
management of such plan or
exercises any authority or control
respecting management or
disposition of its assets,
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Last modified: May 25, 2011