The Supreme Court’s Ruling in Cunningham v. Cornell University: Pleading Standards for ERISA Prohibited Transaction Claims and Considerations for Plan Fiduciaries
A live 90-minute CLE video webinar with interactive Q&A
This CLE webinar will provide ERISA counsel and plan fiduciaries an in-depth analysis of the U.S. Supreme Court’s decision in Cunningham v. Cornell University and its impact on ERISA litigation challenging service arrangements with ERISA plans. The panel will discuss recent trends in excessive fee litigation, the legal analysis underlying the Court’s ruling on pleading standards for ERISA prohibited transaction claims, and how the decision will affect litigation strategies. The panel will also discuss key ERISA provisions impacting arrangements involving the furnishing of services to ERISA plans and strategies for demonstrating compliance with prudence requirements in the selection of service providers.
Outline
- Overview of ERISA provisions impacting the selection and compensation of service providers
- Recent trends in excessive fee litigation
- The Supreme Court’s decision in Cunningham v. Cornell University
- The potential impact of Cunningham on different types of ERISA claims
- Mitigating the effects of Cunningham v. Cornell University
- Practitioner takeaways
Benefits
The panel will review these and other important issues:
- What must ERISA plan fiduciaries do to comply with ERISA in connection with selecting and monitoring service providers?
- What types of claims are raised in lawsuits challenging service arrangements and how has this litigation evolved in recent years?
- How will Cunningham v. Cornell University impact ERISA litigation?
- What is the potential impact of the ruling on clients?
Faculty
Kim Jones
Partner
Willkie Farr & Gallagher
Ms. Jones is a partner in the Litigation Department and ERISA Litigation Group. She is based in the Firm’s... | Read More
Ms. Jones is a partner in the Litigation Department and ERISA Litigation Group. She is based in the Firm’s Chicago office. Kim represents plan sponsors, plan fiduciaries and third party administrators in a broad range of ERISA-related matters in federal courts throughout the country. Ms. Jones focuses her practice on litigation involving employee benefit claim denials and breaches of fiduciary duty on behalf of all types of ERISA plan defendants. She has defended plan fiduciaries in ERISA class actions alleging fiduciary breaches and prohibited transactions related to management of retirement plans. Ms. Jones has also successfully defended large companies in class actions and individual claims alleging improper reduction or denial of retiree health benefits. She also represents life insurance companies and plans in matters involving competing claims for death benefits. In addition to her litigation practice, Ms. Jones routinely provides counsel on benefit claim administration, claim review procedures, fiduciary governance, COBRA compliance and benefit plan design. She serves in leadership roles in industry organizations and is a frequent contributor to publications covering employee benefits and ERISA law.
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Isabel Marin
Attorney
Goodwin Procter
Ms. Marin is an associate in the firm’s Complex Litigation and Dispute Resolution group and a... | Read More
Ms. Marin is an associate in the firm’s Complex Litigation and Dispute Resolution group and a member of its Supreme Court and Appellate Litigation practice. Her work focuses on appellate matters and complex civil litigation, particularly within the areas of administrative law. In addition, Ms. Marin's pro bono practice focuses on immigration appeals. While at Goodwin, she has argued before the Ninth Circuit, and authored and contributed to briefs and dispositive motions in federal court.
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David C. Olstein
Partner
Hogan Lovells
Mr. Olstein’s practice focuses on the fiduciary responsibility provisions of ERISA and the prohibited transaction... | Read More
Mr. Olstein’s practice focuses on the fiduciary responsibility provisions of ERISA and the prohibited transaction excise tax provisions of the Internal Revenue Code. He has an extensive background advising financial institutions, plan sponsors, and investment committees on ERISA matters, including compliance with ERISA’s fiduciary duty and prohibited transaction rules, in connection with the investment of pension plan assets. Mr. Olstein regularly advises fund sponsors on the application of ERISA’s “plan asset” rules as they relate to the establishment and operation of private investment funds. From representing issuers and underwriters in connection with marketing securities to investors, to advising plan sponsors and independent fiduciaries in connection with the selection of annuity providers, he offers substantial experience at the intersection of ERISA and fiduciary responsibility. Mr. Olstein is an active member of the American Bar Association’s Section of Taxation and the New York City Bar Associati
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