WisconsinLady

ACORN'S PENSION SHELL GAMES

http://spectator.org/archives/2009/10/07/acorns-pension-shell-games

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Vernuccio explained to me that the memo refers to several organizations and plans. They are: ACORN, the ACORN Fund, Citizens Consulting Inc. (CCI), Council Benefit Association (CBA), Council Health Plan (CHP), and the ACORN Beneficial Association (ABA).

CBA appears to be a pension plan and CHP appears to be a health plan, according to Vernuccio. Both are covered by ERISA, which stands for the Employee Retirement Income Security Act of 1974. ERISA is a federal law that sets minimum standards for retirement and health benefit plans in the private sector. ERISA does not require any employer to establish a plan. It only requires that those who establish plans meet certain minimum standards.

Tags: acorn, fraud, pension

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