Statement from Ann Combs, Assistant Secretary for the Pension and Welfare Benefits Administration

Archived News Release — Caution: Information may be out of date.

"Last month the department initiated negotiations with Enron to secure the removal of the Administrative Committees for Enron's pension plans. These are Enron officials who serve as plan fiduciaries, with responsibility for operating the plans and protecting the rights of participants and beneficiaries.  Our objective is to replace them with an independent fiduciary, expert in ERISA and experienced in protecting the interests of participants and beneficiaries in complex pension plans like Enron's.

"If we can reach an advantageous agreement, without engaging in a lengthy court proceeding, we will do so.  If no agreement is reached in the very near future, we will seek a court order replacing these people with a qualified independent fiduciary."

U.S. Department of Labor news releases are accessible on the Internet. The information in this news release will be made available in alternate format upon request (large print, Braille, audio tape or disc) from the Central Office for Assistive Services and Technology. Please specify which news release when placing your request. Call 202.693.7773 or TTY 202.693.7775.

Archived News Release — Caution: Information may be out of date.