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Practice Groups / Benefits and Compensation / Fiduciary Compliance |
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Benefits and Compensation
Fiduciary Compliance
We actively advise employers and other ERISA fiduciaries on their responsibilities under ERISA. For example, we regularly counsel plan committees on their duties to prudently select, monitor and replace plan investment funds. We also advise clients on prohibited transaction and "plan asset" issues. In addition, we regularly advise clients on the ERISA issues relating to employer stock investments in pension and defined contribution plans, including ESOPs. We have substantial expertise in negotiating trust agreements, investment manager agreements, custodial agreements, and other third-party agreements. In those instances where a client may have breached its fiduciary duty, our experience allows us to offer suggestions to correct the breach in a practical manner. If approval of a correction method by the U.S. Department of Labor is warranted, we have successfully submitted applications under the Voluntary Fiduciary Correction Program. |
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