Due to a new regulation from the US Department of Labor (DOL) issued under ERISA § 408(b)(2), ERISA plans must receive compensation disclosures from their covered service providers by July 1, 2012. For more information about the new regulation, see our Legal Update "US Department of Labor Issues Final Rule on Service Provider Fee Disclosure." There is substantial authority that plan fiduciaries responsible for selecting service providers must also act prudently to monitor those service providers, including the compensation they are paid.
This 30-minute teleconference is designed for in-house counsel and benefits professionals with plan responsibilities. We will discuss:
- Principal aspects of the ERISA § 408(b)(2) compensation disclosures that are due by July 1, 2012, focusing on the perspective of the personnel responsible for selecting and monitoring service providers
- Issues raised by the DOL's very recent interpretive guidance on the new regulation and the participant-level disclosure rules
- ERISA's legal authority and case law, particularly as to service provider compensation and the new disclosures, and what lessons and best practices might be derived from such authorities for plan fiduciaries who are responsible for selecting and monitoring service providers
This presentation will be made by a panel of our leading practitioners in the areas of ERISA plan administration and ERISA fiduciary litigation:
- Lennine Occhino, a senior member of our ERISA practice, who will draw from her substantial experience with complex investment funds and products
- Robert Davis, the head of our ERISA litigation action group and formerly the Solicitor for the Department of Labor, who will discuss the DOL's views of fiduciary duties in this context
- Brian Netter, a member of our ERISA litigation action group, who will draw from his substantial experience in defending plan fiduciaries against claims involving service provider compensation and disclosures
This teleconference series is designed to provide current, practical and strategic advice to help you to comply with new laws, reduce the risk of litigation and keep ahead of the curve on critical employee benefit and executive compensation issues. Individual notices will be sent for each meeting.