401(k) Individual Suits After LaRue v. DeWolff
Minimizing Exposure and Defending Claims Over 401 (k) Fund Management
Supreme Court's Feb. 20 Ruling Removes Barrier to Individual Breach of Fiduciary Duty Lawsuits
Recording of a 90-minute CLE webinar with Q&A
- Overview and implications of LaRue v. DeWolff, Boberg & Associates, Inc.
- Interplay with 401(k) fee litigation and ERISA “stock drop” litigation
- Broader implications/potential claims post-LaRue
- Former participant standing
- Boundaries of 502(a)(3)
- Application of 502(a)(1)(b)
- Damages theories
- Welfare plans
- Best practices for plan sponsors to reduce liability related to 401(k) fund management
- What actions/inactions potentially violate an employer’s legal duty to carefully manage plans?
- Provide consistent and careful plan oversight
- Provide participants with summary annual reports and Form 5500
- Follow the PPA’s Disclosure and Asset Modeling requirements
- Formalize procedures for company-sponsored plans
- Process claims through ERISA’s claims procedure
- Avoid labeling senior executives as fiduciaries
The panel reviewed these and other key questions:
- What is the likely impact of the LaRue decision on plan sponsors?
- What actions or inactions potentially violate a fiduciary's duty to carefully manage plans?
- What are some best practices for plan sponsors to avoid litigation for plan mismanagement or reduce liability exposure?
Crowell & Moring
He is a founding member of the firm's Labor and Employment Law Practice Group. He has over 30 years experience in... | Read More
He is a founding member of the firm's Labor and Employment Law Practice Group. He has over 30 years experience in employment law and argued the LaRue case before the Supreme Court.Close
Robert P. Davis
He represents plans, fiduciaries and plan sponsors in ERISA investigations and litigation. He also provides ERISA... | Read More
He represents plans, fiduciaries and plan sponsors in ERISA investigations and litigation. He also provides ERISA advice on fiduciary issues, prohibited transactions and matters under Title I. Mr. Davis was previously Solicitor of the United States Department of Labor.Close
Karen L. Handorf
Cohen Milstein Sellers & Toll
She is a member of the firm's Employee Benefits Practice Group. She previously worked for the Office of the... | Read More
She is a member of the firm's Employee Benefits Practice Group. She previously worked for the Office of the Solicitor of Labor, where she helped shaped the law related to remedies under ERISA. She also supervised ERISA appellate litigation.Close