Developments in Retirement Plan Investment and Excessive Fee Litigation: A View From the Trenches
Navigating Prohibited Transaction Rules, Fiduciary Duties, and Recent DOL Investigations and Civil Litigation
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will discuss the current landscape of retirement plan investment and fee litigation. The discussion will focus on the offering of proprietary investment products and services in financial service company plans, and similar investment and fee litigation arising from the offering of investment products and services in client plans. The panel will also address how plan sponsors and fiduciaries can avoid or mitigate the risk of litigation in this changing legal environment.
- Risks with offering proprietary funds in retirement plans and the varied legal standards
- Investment management and 3(38) management services
- Breach of fiduciary duty
- DOL investigations and class action complaints
- Anticipating the next wave of retirement plan litigation
The panel will review these and other key issues:
- What are the peculiar problems associated with offering proprietary funds and the varied legal standards governing their use?
- What are the potential risks associated with providing expanded investment management, including delegated 3(38) investment management services, to client plans?
- How might a finding of a fiduciary breach concerning these products and services impact the provider’s business model?
- What are the steps that can be taken to avoid problems before they erupt into a DOL investigation and an ERISA class action?
- Looking ahead, what are the issues the plaintiffs’ bar will focus on in the next wave of retirement plan litigation?
Christopher J. Boran
Morgan, Lewis & Bockius
Mr. Boran represents employers, benefit plan fiduciaries and service providers, and other clients in a wide range of... | Read More
Mr. Boran represents employers, benefit plan fiduciaries and service providers, and other clients in a wide range of employment and benefit matters. Co-chair of the firm’s national Employee Retirement Income Security Act (ERISA) litigation practice, he specializes in defending benefit plan sponsors (employers), fiduciaries, and service providers in complex and class-action litigation under ERISA and state trust law.Close
Matthew A. Russell
Morgan, Lewis & Bockius
Mr. Russell defends employers from various industries in a range of complex litigation matters. His practice focuses on... | Read More
Mr. Russell defends employers from various industries in a range of complex litigation matters. His practice focuses on representing plan sponsors, fiduciaries, and service providers facing a variety of employee benefits claims and ERISA litigation around the United States. Mr. Russell has handled an array of ERISA matters, including claims challenging retirement plan investments, fees, and expenses; company stock and employee stock ownership plans (ESOPs); top-hat plans; profit-sharing plans; “cash balance” plans; and alleged cutbacks or forfeiture of accrued benefits in defined benefit pension plans.Close