401(k) retirement plans offered to US workers are subject to the Employee Retirement Income Security Act, commonly known as “ERISA.” Under ERISA, plan fiduciaries are subject to duties of loyalty and prudence, which can be enforced by the US Department of Labor or by private civil actions.
In recent years, financial institutions have increasingly been the targets of private ERISA lawsuits, typically filed as class actions. All employers—and, particularly, financial institutions—should be mindful of their exposure to ERISA class action litigation and of the steps they can take to minimize their risk.
Please join Mayer Brown lawyers Nancy Ross and Brian Netter as they discuss:
- Recent trends in ERISA litigation
- How financial institutions, in particular, are targeted for ERISA lawsuits
- Ways to reduce the likelihood of facing and the severity of an ERISA class action
For additional information, please contact GFMI@mayerbrown.com.
Mayer Brown’s Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm’s global resources from multiple practices and offices, the initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.
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