Fiduciary Compliance in ESOP Transactions: Recent DOL Settlement Agreements and Best Practices for Counsel
Implications of Recent Settlement Agreements and Guidance on Avoiding Litigation
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will guide counsel on rules and procedures governing fiduciary and compliance responsibilities of trustees and advisers in ESOP transactions. The panel will discuss the implications of recent DOL settlement agreements, such as the Alpha, LNB, and the recent Reliance Trust agreement, as well as best practices in satisfying fiduciary duties in ESOP transactions and avoiding litigation.
Outline
- Overview of fiduciary duties, policies, and procedures of ESOP transactions
- The impact of DOL settlement agreements
- Detailed requirements of selecting valuation advisers and oversight of appraisers
- Fiduciary review process: projections, documentation, and reliance
Benefits
The panel will review these and other crucial issues:
- Recognizing DOL standards for fiduciaries in ESOP transactions
- Understanding the necessary policies and procedures to be followed by trustees or other fiduciaries of ESOPs
- Selecting a valuation adviser and recognizing the requirements and procedures the adviser must follow
- Proper documentation of valuation reports and transaction agreements
- Critical steps during the fiduciary review process and avoiding litigation
Faculty
Eliot T. (Eli) Burriss
Partner
Katten Muchin Rosenman
Mr. Burriss represents clients in sophisticated litigation matters, with a scope that includes derivative actions,... | Read More
Mr. Burriss represents clients in sophisticated litigation matters, with a scope that includes derivative actions, M&A disputes, software license and data breach litigation, antitrust litigation, and trade secret litigation. He also has extensive experience litigating matters that arise under the Employee Retirement Income Security Act (ERISA), including 401(k) litigation, employee stock ownership plan (ESOP) litigation, and representing some of the world’s largest health plan administrators and insurers, advising on a variety of litigation matters, including anti-fraud litigation, provider disputes and regulatory issues.
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Emily Rickard
Attorney
Morgan, Lewis & Bockius
Ms.Rickard focuses her practice on the Employee Retirement Income Security Act of 1974 (ERISA) and has devoted a... | Read More
Ms.Rickard focuses her practice on the Employee Retirement Income Security Act of 1974 (ERISA) and has devoted a substantial portion of her practice to the implementation and maintenance of employee stock ownership plans (ESOPs). She regularly represents companies, internal ESOP trustees, and external ESOP trustees in transactions as well as in ongoing compliance matters. Outside of the ESOP context, she advises clients--including employers, insurers, plan administrators, and consultants--on health and welfare programs, qualified retirement plans, nonqualified retirement plans, and executive compensation.
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Roberta Casper Watson
Partner
The Wagner Law Group
Ms. Watson focuses on ERISA and employee benefits. She concentrates on a wide array of areas including, pension and... | Read More
Ms. Watson focuses on ERISA and employee benefits. She concentrates on a wide array of areas including, pension and profit sharing plans, health and welfare benefit plans, including COBRA, HIPAA and the Affordable Care Act, ERISA fiduciary decision-making, Employee Stock Ownership Plans, benefits litigation backup, benefits aspects of mergers and acquisitions, employee benefits aspects of family law, labor laws affecting employee benefits, other employee benefits and deferred Compensation, and employee benefit disputes and employee benefits claims.
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