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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    ERISA

Date & Time
  • event Date

    Wednesday, May 11, 2022

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE webinar will provide guidance to fiduciaries and employer benefits counsel on key issues and legal considerations for the use of collective investment trusts (CITs) in 401(k) plans and other qualified retirement plan investments. The panel will discuss applicable federal regulations and requirements, reviewing CIT terms, investment manager appointments, vetting fiduciary risks, monitoring procedures, reporting requirements, and other key issues to consider.

Faculty

Thomas Roberts
Principal
Groom Law Group Chtd - Washington

Mr. Roberts has more than 25 years of experience in advising insurance and annuity providers, banks, and other financial institutions on ERISA fiduciary and related legal matters involving retirement product and service offerings.

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George M. Sepsakos
Principal
Groom Law Group Chtd - Washington

Mr. Sepsakos represents clients on a broad range of ERISA, federal tax and securities law matters. His practice is primarily focused on issues related to Title I of ERISA, including fiduciary responsibility and prohibited transaction issues. 

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Description

CITs are a popular investment vehicle for 401(k)s and other retirement plans. The legal and regulatory framework for CITs provides significant opportunities as well as challenges. ERISA counsel and fiduciaries must identify key issues regarding utilizing CITs in plan asset investments, disclosure and reporting requirements, key provisions of CIT documents, and other critical considerations.

CITs are cost-efficient investment options for retirement plans that are tax-exempt, pooled investment vehicles available only to defined contribution and other ERISA-qualified plans. However, ERISA counsel and fiduciaries must have complete knowledge of the legal nuances, limitations, recent litigation, and pitfalls to avoid when considering CITs for retirement plan investments.

Listen as our panel of ERISA and financial services attorneys provides an update on current regulations and developments relating to CITs. The panel will also discuss the impact of recent litigation on CITs and outline compliance and risk mitigation strategies.

Outline

  1. Overview of CITs
  2. DOL and SEC regulatory framework for CIT funds
  3. ERISA fiduciary rules and liability
  4. Compliance and risk mitigation strategies
  5. Best practices for ERISA counsel and fiduciaries

Benefits

The panel will review these and other key questions:

  • How do CITs compare with registered mutual funds?
  • What are the regulatory considerations in establishing and operating CITs?
  • What are the fiduciary and compliance risks?
  • What risk mitigation strategies are available to plan sponsors and fiduciaries?
  • What are recent trends in ERISA litigation relating to CITs?