Pension De-Risking for Employee Benefit Sponsors
Minimizing Risks and Ensuring ERISA Compliance When Transferring Pension Obligations to Other Parties
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Wednesday, January 16, 2013
Recorded event now available
This CLE webinar will provide benefits counsel with a review of pension de-risking approaches used by companies to reduce some of the risks involved with employee retirement benefits. The panel will offer best practices for leveraging the precautions to prevent ERISA fiduciary law violations when making transfers.
Description
As U.S. pension plans face record deficits, options for transferring some or all of a sponsor's plan risk make sense for many companies. General Motors, NCR and Verizon are a few companies that have chosen de-risking options in 2012.
De-risking transactions take many forms, from transferring company obligations to third parties, to offering payouts to plan participants, to undertaking liability-driven investing and other strategies. Counsel and companies must tread carefully to avoid ERISA-based litigation or enforcement actions.
Prudent de-risking requires thorough financial analysis and clear demonstrations that fiduciary standards under ERISA are met. Counsel should guide companies on how to establish the reasonableness of decisions and prepare to defend against possible court challenges.
Listen as our panel of experienced employee benefit practitioners provides guidance on precautions for companies undertaking transfers of pension plan obligations to third parties or other de-risking options. The panel will outline best practices for assembling a thorough financial review, complying with ERISA requirements, and responding to potential legal challenges from plan participants.
Outline
-
De-risking overview
- Current trends
-
Different approaches
- Transfers to third parties
- Lump sum payouts for participants
- Investment strategies
-
Procedural prudence and meeting ERISA fiduciary requirements
- Prudence
- Care
- Loyalty
-
Potential challenges from plan participants
- Grounds for challenges
- Likelihood of success
Benefits
The panel will review these and other key questions:
- How can pension providers demonstrate they have met their ERISA standards of prudence, care and loyalty to plan participants?
- What steps should be taken in preparation for termination of a pension plan?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Faculty
Susan Mangiero, Managing Director
Fiduciary Leadership, Trumbull, Conn.
She has provided testimony before the ERISA Advisory Council, the OECD and the International Organization of Pension Supervisors as well as offered expert testimony and behind-the-scenes forensic analysis, calculation of damages and rebuttal report commentary for various investment governance, investment performance, fiduciary breach, prudence, risk and valuation matters.
Sam Myler
McDermott Will & Emery, Chicago
He devotes a substantial amount of his practice to litigating civil actions under ERISA. His experience includes the representation of both welfare and retirement plans, and their respective plan sponsors and fiduciaries, in civil litigation.
Anthony A. Dreyspool, Senior Managing Director
Brock Fiduciary Services, New York
He specializes in the investment of assets of ERISA-covered employee benefit plans and all aspects of ERISA fiduciary law compliance. He has more than 30 years of experience with respect to ERISA matters and has substantial knowledge in the structuring and formation of private real estate and equity funds for the institutional investment market.
David Hartman, General Counsel and Vice President
General Motors Asset Management, New York
He is general counsel to a wholly owned subsidiary of General Motors Company that serves as investment fiduciary to, and has responsibility for managing the assets of, employee benefit plans sponsored by GM. His duties focus on institutional investment management, investment transactions including in alternative asset classes, fiduciary matters, and general corporate and transactional matters.
Ordering
Online CLE - Audio Recording
Includes streaming audio of full program plus handouts (available 24 hours after live program).
CLE:
Pre-approved for participatory or non-traditional/alternate format credit in: CA, HI*, NY*, WV*.
Pre-approved for self-study credit in: AK, AZ, MO, MT, TX*, VT, WA.
Upon request, also available in: CO, CT*, FL, GA, ID, KY, LA*, ME, NC, ND, NE, NH, NM, NV, OR*, SC, TN, UT, WI, WY. If you are applying for credit in one of these states, make sure to select those states when placing your order.
(*Indicates that Strafford must report attendance.)
Online CLE Audio $297.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, MO, MT, NY, TX*, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID*, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com. (*Indicates that Strafford needs to process the CLE — see below to purchase this option.)
Webinar Download (Slide Presentation with Audio) $297.00
Available three business days after the live event
DVD (Slide Presentation with Audio) $297.00
plus $9.45 S&H
Available ten business days after the live event
MP3 Download (Audio with Slide PDFs) $297.00
Available 24 hours after the live event
CD (Audio with Slide PDFs) $297.00
plus $9.45 S&H
Available ten business days after the live event
Webinar/Teleconference
Strafford webinars/teleconferences offer several options for participation: online viewing of speaker-controlled PowerPoint presentations with audio via computer speakers or via phone; or audio only via telephone (download speaker handouts prior to the program). Please note that our webinars do not feature videos of the presenters.
CLE Credit
Strafford's live seminars qualify for CLE in every state that accredits webinars. They offer you a high quality, cost effective, and convenient CLE option, with no lost travel time or expenses.
Customer Reviews
Strafford's on-line session was easy to attend and the topic was timely.
Jessica Lermond
Chartis Claims
Great overall summary of ERISA issues.
Shannon Awsumb
Anthony Ostlund Baer & Louwagie
The seminar reinforced information and explained issues in a clear manner without being either too elementary or too technical.
Mary Bowden
SC&H Group
The seminar was understandable, fluid and thorough for the topics covered.
Susan L. Dolin, Esq.
Susan L. Dolin
The program was very helpful and gave me a good overview.
Lauren Piana
Odin, Feldman & Pittleman
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
Partner
Gladstone Michel Weisberg Willner & Sloane
Shareholder
Greenberg Traurig
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