administers all disability products for Guardian. Human resources Guardian acquired Reed Group in 2012 and through it, provides human resources to companies dealing with employees on absence due to disability. It helps manage and administer claims related to employee absences, offers "LeavePro", a software to manage absences, and offers "MDGuidelines", a web-based tool to manage employee's return to work. In 2015, they grew this business by acquiring Aon Hewitt's absence management business. Investment services In 2006, Guardian acquired 65% of RS Investments. RS provides its services to pensions, investment companies, high net worth individuals, corporations, and banks. It also has a selection of mutual funds which it offers to clients. In 2007, RS Investments was one of the largest stockholders in Corrections Corporation of America, with 2,486,866 shares. In 2016, Victory Capital acquired RS Investments. In September 2016, Guardian sold their 401(k) business to Ameritas Life. Additionally, Guardian owns a full service broker-dealer Park Avenue Securities (PAS). PAS was established in 1999 by Guardian. Controversies In 2009, Guardian was the subject of controversy when, in December 2008, it cancelled the insurance plan that covered Ian Pearl, who suffers from muscular dystrophy and requires 24-hour nursing care, which costs approximately million dollars a year. Under the federal ERISA law Guardian was obligated to continue the coverage for one year after it cancelled the plan and thus policy under the plan. Guardian offered no comparable plan to replace it, and his parents characterized the cancellation as a "death sentence." His parents sued Guardian and lost the case in October 2009, when a federal judge found that Guardian had the right to terminate the entire plan. The Pearl family appealed to the Secretary of Health and Human Services and to the media, and publicized a memo that emerged during the trial, which characterized high cost policies like the one Pearl had, as "dogs" and "trainwrecks." Guardian publicly and personally apologized to the Pearls and agreed to continue coverage for Ian and two other patients in similar situations. Ian Pearl lives in New York State, and as a result of the controversy, New York passed "Ian's Law" that among other things, requires that insurance companies that cancel insurance plans must offer similar replacement coverage to policy holders under the cancelled plan. References Life insurance companies of the United States 1860 establishments in New York (state) Financial services companies established in 1860 Mutual insurance companies