Gain a Practical Understanding of Fiduciary Duties for 401(k) & ERISA Plans, Plus Strategies to Manage Risks & Avoid Liability
Gain a comprehensive and practical understanding of your or your clients’ fiduciary duties concerning 401(k)’s and other ERISA plans. You will learn about practical strategies used to avoid fiduciary status where advisable and satisfy your fiduciary duties when necessary and appropriate. You will also gain an understanding of how to guard yourself against exposure to liability for alleged breaches of fiduciary duties.
Learning Objectives
- You will be able to identify which plans are subject to ERISA.
- You will be able to discuss special rules for employer stock and ESOPs.
- You will be able to explain fiduciary liability insurance.
- You will be able to review DOL enforcement activities.
Credits
- Live Webinar
- AK CLE 1.0
- AL CLE 1.1
- AR CLE 1.0
- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- HI CLE 1.0
- IL CLE 1.0
- IN CLE 1.1
- MN CLE 1.0 (Pending)
- MO CLE 1.3
- NH MCLE 1.0
- NJ CLE 1.3
- NM CLE 1.0
- NV CLE 1.0
- NY CLE 1.0 including Areas of Professional Practice 1
- OH CLE 1.25 (Pending)
- PA CLE 1.0
- RI CLE 1.0
- VT CLE 1.0
- WI CLE 1.0
- WV MCLE 1.3
- HR Certification Institute 1.0
- SHRM 1.0
- CPE 1.2 including Personnel/HR 1.2
- Recorded Webinar
- AK CLE 1.0
- AL CLE 1.2
- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- RI CLE 1.0
- VT CLE 1.0
- WA CLE 1.25
Agenda
- Pre-ERISA Background and Common Law Meaning of Fiduciary
- Enactment of ERISA and ERISA Pre-Emption
- Which Plans Are Subject to ERISA?
- ERISA Definition of Fiduciary - Function Over Form
- Identification of Fiduciaries in Plan Documents
- Original ERISA Model: Pooled Investments, Defined Benefit Plans, and Modern Portfolio Theory
- ERISA’s Articulation of Fiduciary Duties: Loyalty, Expertise, Prudence, Diversification
- Prohibited Transactions
- Special Rules for Employer Stock and ESOPs
- Personal Liability of Fiduciaries and ERISA Limits on Indemnification
- Fiduciary Committees and Co-Fiduciary Liability
- Fiduciary Liability Insurance
- No Requirement of Prescience or Guarantee of Outcomes; Procedural Prudence
- ERISA § 404(C) and the 401(K) Explosion
- Structuring Investment Choices and Default Funds
- Importance of Fees and Fee Disclosures
- Role of Advisors I - Education vs. Advice
- Role of Advisors II - Assumption of Fiduciary Responsibility as Advisor Business Model
- DOL Enforcement Activities
- ERISA Litigation Basics and Practical Realities
- Recent Litigation Trends
- Importance of Fiduciary Process as Defense to Litigation
Speakers
Luke D. Bailey,
Clark Hill Strasburger- Partner with Clark Hill Strasburger, Collin County, TX
- Specializes in ERISA and the application of federal income tax law to employee benefits and executive compensation
- Named among The Best Lawyers in America®, highest rating by Martindale-Hubbell Law Directory, and included in D magazine List of Best Lawyers in Dallas in multiple years
- J.D. degree, the University of California at Berkeley; A.B. degree, Occidental College
