After listening to this on-demand webinar and reviewing the associated PowerPoint® slides, you should have a comprehensive and practical understanding of your or your clients' fiduciary duties with respect to 401(k)'s and other retirement plans. The on-demand webinar will cover what ERISA's fiduciary duties are, when and to whom they apply, and practical strategies used by fiduciaries to avoid fiduciary status where advisable, satisfy your fiduciary duties when necessary and appropriate, and guard yourself from exposure to liability for alleged breaches of fiduciary duties.
Learning Objectives:
- You will be able to identify which plans are subject to ERISA.
- You will be able to discuss special rules for employer stock and ESOPs.
- You will be able to explain fiduciary liability insurance.
- You will be able to review DOL enforcement activities.
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Pre-ERISA Background and Common Law Meaning of Fiduciary
Enactment of ERISA and ERISA Pre-Emption
Which Plans Are Subject to ERISA
ERISA Definition of Fiduciary - Function Over Form
Identification of Fiduciaries in Plan Documents
Original ERISA Model: Pooled Investments, Defined Benefit Plans, and Modern Portfolio Theory
ERISA's Articulation of Fiduciary Duties: Loyalty, Expertise, Prudence, Diversification
Prohibited Transactions
Special Rules for Employer Stock and ESOPs
Personal Liability of Fiduciaries and ERISA Limits on Indemnification
Fiduciary Committees and Co-Fiduciary Liability
Fiduciary Liability Insurance
No Requirement of Prescience or Guarantee of Outcomes; Procedural Prudence
ERISA § 404(c) and the 401(k) Explosion
Role of Advisors I - Education vs. Advice
Role of Advisors II - Assumption of Fiduciary Responsibility as Advisor Business Model
PPA 2006 Introduces More Safe Harbors; Qualified Default Investment Alternatives (QDIAs) - What They Are and Extent of Fiduciary Protection
ERISA Litigation Basics and Practical Realities
DOL Enforcement Activities
Intensified Focus on Plan Costs and Disclosure
Recent Litigation Trends
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on April 9, 2014.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Luke D. Bailey
Clark Hill PLC
- Senior Counsel with Clark Hill PLC, Collin County, TX office
- Specializes in ERISA and the application of federal income tax law to employee benefits and executive compensation
- Named among The Best Lawyers in America®, highest rating by Martindale-Hubbell Law Directory, and included in D magazine List of Best Lawyers in Dallas in multiple years
- J.D. degree, the University of California at Berkeley; A.B. degree, Occidental College
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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