DOL’s New ERISA Fee Disclosure Initiatives for 401(k) Plans
Compliance Strategies for Plan Fiduciaries and Service Providers
Recording of a 90-minute CLE teleconference with Q&A
Conducted on Tuesday, January 13, 2009
Recorded event now available
This seminar will review the new and anticipated DOL ERISA Fee Disclosure requirements for employee benefit plans and steps plan fiduciaries and service providers should take immediately to ensure compliance with the new transparency initiatives.
Description
Following a wave of lawsuits against employers over 401(k) plan management, the Department of Labor introduced several new initiatives designed to provide transparency in the administration of certain employee benefits plans subject to ERISA.
The DOL revised the Form 5500, Schedule C reporting requirements, effective January 1, 2009, and in December 2007, issued proposed regulations under ERISA Section 408(b)(2) to require disclosure by service providers to fiduciaries.
Most recently, in July 2008, the DOL released proposed regulations under ERISA Sections 404(a) and 404(c), which require disclosure by fiduciaries to plan participants. The DOL intends for the 404(a) and 404(c) regulations to become effective for plan years beginning on or after January 1, 2009.
Listen as our panel of employee benefits attorneys reviews the new and anticipated DOL requirements and steps plan fiduciaries and service providers should take immediately to ensure compliance with the new transparency initiatives.
Outline
- Form 5500 Schedule C reporting requirements
- Implementation date
- “Reportable compensation”
- Bundled service arrangements
- “Eligible indirect compensation”
- ERISA 408(b)(2) proposed regulations
- Compensation and services disclosures
- Service provider relationship disclosures
- ERISA 404(a) and 404(c) proposed regulations
- Plan-related disclosures
- Investment-related disclosures
- Best practices to avoid and reduce ERISA litigation
- For plan fiduciaries
- For plan service providers
Benefits
The panel will review these and other key questions:
- What information must plan sponsors and service providers disclose under the new DOL initiatives and when must they disclose it?
- How may disclosure information be delivered to plan fiduciaries and plan participants? Is electronic communication sufficient?
- What steps should plan fiduciaries and plan sponsors take now to ensure compliance with the current and anticipated requirements?
Faculty
Lynda T. Galligan,
Partner
Goodwin Procter, Boston
She is a partner in the firm's ERISA Executive Compensation Practice. Her practice includes a wide range of ERISA and compensation matters. She counsels investment managers and other ERISA fiduciaries regarding the investment of employee benefit plan assets.
Eric R. Keller,
Partner
Paul Hastings Janofsky & Walker, Washington, D.C.
He represents clients in all aspects of executive compensation and employee benefits law. He frequently advises plan fiduciaries on how to reduce their risk of fiduciary liability for plan investments. He represents plan fiduciaries in administrative claim disputes with participants and contractual disputes with service providers.
John A. Reade, Jr.,
Partner
Duane Morris, Philadelphia
His practice encompasses the entire area of employee benefits, including executive compensation and fiduciary related issues involving prohibited transactions and qualified plan advice. He represents clients before the DOL, IRS and PBGC.
Ordering
Online CLE
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
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Online CLE Audio $74.50
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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.
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Includes 50% off with Special Offer
CD $24.50
plus $9.45 S&H
Available ten business days after the live event
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CLE Credit
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Customer Reviews
Speakers were knowledgeable enough to talk about the subject matter in an easily digestible manner.
Daniel M. Cleary
Gotham Insurance/New York Marine & General Insurance
The information was relevant and well presented. The questions were good, and the speakers responded with clear knowledge.
Sheila Fox Morrison
Davis Wright Tremaine
The speakers were very well informed and knowledgeable.
Geoffrey Peck
Morrison & Foerster
Convenient, interesting and informative. Strafford brought together good subject matter experts with practical knowledge.
Thom Cope
Udall Law Firm
Convenient and well-organized. Well-run program.
Michael V. Kruljac
IMERYS
Employment & ERISA Advisory Board
Partner
Littler Mendelson
Partner
Perkins Coie
Partner
Wick Phillips
Shareholder
Littler Mendelsohn
Shareholder
Greenberg Traurig
Partner
Gibson Dunn & Crutcher
Partner
Gladstone Michel Weisberg Willner & Sloane
Shareholder
Greenberg Traurig