Some participants believed that separation of the CEO and chairman of the board positions recognizes the differences in their roles and eliminates conflicts in functions.
The CEO and chairman of the board positions can be separated to eliminate conflicts in function.
The Secretaries found that the requirements are effective January 1, 1998, under the provisions of the MHPA and that plan administrators and sponsors, issuers, and participants needed guidance on the new statutory provisions before the effective date.