This CLE webinar will provide ERISA counsel and plan sponsors guidance on ERISA fiduciary standards and challenges for retirement plans. The panel will discuss the complex compliance requirements, as well as identify fiduciaries for plan decisions and transactions, potential liability stemming from plan operation issues, prohibited transactions, and conflicts of interests. The panel will also discuss recent cases, litigation risks, and remedies for fiduciary breaches.
ERISA sets minimum standards and requirements for retirement and welfare benefit plans. Recent case law, along with legislation over the years, solidifies the expansion of the protections available to benefit plan participants and beneficiaries. ERISA counsel and fiduciaries must have a firm grasp of these standards, requirements, and mechanisms for overcoming compliance challenges.
The risk and rules for fiduciaries can significantly impact plan sponsors, administrators, providers, investment advisers, etc., creating a level of uncertainty in ensuring fiduciary compliance. Fiduciaries who fail to comply with ERISA may be personally liable, resulting in restoring any losses to the plan or any profits made through improper use of the plan assets due to their actions. In addition, fiduciary liability for a breach may also include penalties assessed by the Department of Labor.
ERISA counsel and advisers must understand the rules applicable to fiduciaries, the challenges stemming from recent cases, DOL rules, and methods to maintain compliance for asset managers, plan sponsors, and providers.
Listen as our panel discusses ERISA fiduciary standards and requirements, determining who are considered fiduciaries for plan decisions and transactions, potential liability stemming from plan operation issues, prohibited transactions, and conflicts of interests. The panel will also discuss recent cases, litigation risks, and remedies for fiduciary breaches.
