This CLE webinar will provide guidance to employee benefits counsel on recent ERISA litigation and key issues for plan sponsors and third-party administrators. The panel will discuss the recent lawsuit filed against the DOL regarding ESG rules, fiduciary duty claims and benefits litigation procedures, and best practices for employee benefits counsel.
In the past year, there has been an increase in ERISA litigation, including arbitration, stemming from the breach of fiduciary duty, recent DOL ESG rules, plan fees, and third-party administration liability. Failure to follow best practices and risk mitigation strategies for ERISA-covered plans often results in litigation and can cost millions in legal fees and settlements.
Recent cases have shown that methods of plan investment selection, excessive fees, benefit claims procedures, and administrator liability are often the basis of litigation alleging breach of fiduciary duty against plan sponsors and administrators. Fiduciary responsibilities under ERISA require plan sponsors and administrators to monitor fee structures and limit expenses, avoid conflicts of interest, protect data, and select investment options and providers to benefit plan participants.
There are a number of cases within the past year showing how courts interpret and apply the Hughes decision and other cases' continued focus on fiduciary duty and the extent of liability. In addition, half the states have filed a lawsuit against the DOL regarding their recent ESG rules under a variety of claims under ERISA.
ERISA counsel and fiduciaries seeking to minimize liability must identify key items in plan design and administration and effectively manage lawsuits when needed.
Listen as our panel discusses the latest ERISA litigation and the differences in claims, theories, and causes of action. The panel will also offer techniques for managing lawsuits and what to do to avoid litigation.
