ERISA 401(k) Fee Litigation and New Fee Disclosure Regulations
Strategies for Bringing and Defending Fee Claims and Complying with DOL's Disclosure Requirements
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, December 9, 2010
Recorded event now available
This CLE webinar will provide an update on the recent ERISA 401(k) fee and expense litigation focused on defense and plaintiff strategies used in recent trials and appeals. The panel will also analyze the DOL’s new fee disclosure regulation and steps that plan providers must take to comply with the new requirements.
Description
The recent spate of lawsuits relating to 401(k) plan fees shows no signs of abating. As fee litigation progresses, the defendants, theories and defenses evolve and many key issues remain unsettled. Plus, issues are not always resolved consistently among the circuit courts.
The U.S. Supreme Court’s Jones v. Harris Assocs. decision in March 2010 set out standards to evaluate fees charged to mutual funds by investment advisers. Although it was decided under the Investment Company Act, the ruling provides some insights into defending ERISA excessive fee cases.
Moreover, the DOL's July 2010 interim final regulations under Section 408(b)(2) require certain service providers to disclose to plan fiduciaries information regarding their compensation. The new regulations differ in several significant respects from the proposed regulations issued in 2007.
Listen as our authoritative panel of ERISA plaintiff and defense attorneys analyze the evolving litigation trends in 401(k) fee and expense litigation and provide practitioners with litigation strategies—for both plaintiffs and defendants. The panel will also dicuss the DOL's new fee disclosure regulation and effective compliance measures.
Outline
- Overview of litigation trends and developments
- Resolved litigation
- Pending litigation
- Jones v. Harris
- Defense perspective
- Scope of liability
- Defenses
- Litigation strategies
- Plaintiff perspective
- Theories of liability
- Litigation strategies
- DOL’s new fee disclosure regulations
Benefits
The panel will review these and other key questions:
- What are the most recent strategies employed by plaintiffs in ERISA 401(k) fee and expense litigation?
- What lessons can plan fiduciaries learn from the recent ERISA fee litigation?
- What is the anticipated impact of the Supreme Court's Jones v. Harris ruling on ERISA fee litigation?
- How do the new DOL fee disclosure regulations differ from the proposed regulations issued in 2007?
- Who is subject to the new disclosure regulations and what types of plans are covered?
Faculty
Brian T. Ortelere, Partner
Morgan Lewis & Bockius, Philadelphia
His practice covers the full range of employee benefit defense litigation matters, including a number of ERISA class actions. With his victory in the Wright v. Oregon Metallurgical case, he became the first lawyer to successfully defeat "stock drop" claims on a motion to dismiss. He also successfully tried the Unisys Savings Plan matter, the first application of ERISA section 404(c) at trial.
Derek W. Loeser, Attorney
Keller Rohrback, Seattle, Wash.
He practices in the firm's nationally recognized Complex Litigation Group where he focuses on ERISA, securities fraud, employment, and consumer protection class action litigation. Prior to private practice, he was a trial attorney in the Civil Rights Division of the U.S. Department of Justice where he prosecuted individual and class action employment discrimination cases.
Ordering
Online CLE - Audio Recording
Includes streaming audio of full program plus handouts (available 24 hours after live program).
CLE:
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Recorded Event
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Customer Reviews
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Frederic Dorwart, Lawyers
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Ian Weinberger
The Lambos Firm
Employment & ERISA Advisory Board
Partner
Littler Mendelson
Partner
Perkins Coie
Partner
Wick Phillips
Shareholder
Littler Mendelson
Partner
Bracewell & Giuliani
Shareholder
Greenberg Traurig
Partner
Gibson Dunn & Crutcher
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Gladstone Michel Weisberg Willner & Sloane
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Greenberg Traurig
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