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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    ERISA

Date & Time
  • event Date

    Tuesday, January 28, 2025

  • 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 ERISA counsel and plan fiduciaries a comprehensive understanding of the risks and challenges of defined benefit plans for sponsors and administrators. The panel will analyze key substantive and procedural issues addressed in recent court rulings, standing in excessive fee cases and other issues, remedies, plan investments, and monitoring fee structures, as well as outline effective strategies for defending and avoiding fiduciary duty claims.

Faculty

Charles M. Dyke
Partner
Nixon Peabody LLP

Mr. Dyke leads the firm’s ERISA Litigation practice. His experience includes defending ERISA “fees and investments” class actions, defending other complex ERISA breach of fiduciary duty claims, prosecuting fraud claims on behalf of plan fiduciaries against unscrupulous service providers, litigating pension plan termination cases, and handling ERISA appellate matters. He recently defended at trial large ERISA breach of fiduciary duty and pension underfunding claims. Mr. Dyke has been recognized as a “Northern California Super Lawyer” each year since 2007 and is listed in Best Lawyers in America. He speaks and writes on ERISA litigation topics.

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Jen Squillario
Partner
Nixon Peabody LLP

Ms. Squillario represents companies, executives, and fiduciaries in connection with Employee Retirement Income Security Act (ERISA) litigation, employee benefits and executive compensation matters, class actions, and other commercial disputes. She also has significant experience in complex disputes involving financial products and managing e-discovery in large internal and governmental investigations and heavy document litigations.

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Ian Taylor
Partner
Nixon Peabody LLP

Mr. Taylor represents companies, executives, and fiduciaries in connection with Employee Retirement Income Security Act (ERISA) litigation, employee benefits and executive compensation matters, class actions, and other commercial disputes. Trained as a trial lawyer, he has focused almost exclusively on employee benefits-related litigation for the past 15 years.

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Description

Fiduciary responsibilities of sponsors and administrators for defined benefit plans require a duty of prudence under ERISA. Failure to follow best practices for defined benefit plans can result in litigation and millions in legal fees and settlements.

Most cases where retirement plan participants have sued plan sponsors for mismanaging their retirement plan under Section 502(a)(2) of ERISA have involved 401(k) and other defined contribution plans. These claims generally assert that employers acting as plan administrators engage in self-dealing and/or other practices that violate ERISA's fiduciary standards. Claims include imprudently selecting investment options and administrative services or funds that earn high fees for the plan sponsor while performing worse than other competitors.

Recently, in Chavez v. Plan Benefit Services Inc., employees of a single employer sued the service providers of their health and welfare benefit plan for allegedly charging excessive fees in connection with the services they provided in violation of ERISA. The plaintiffs in this case moved for class certification, which was certified by the district court and later affirmed by the Fifth Circuit. This resulted in the defendants filing a petition for a writ of certiorari to the U.S. Supreme Court arguing that the Fifth Circuit violated the principles of standing under Article III because the plaintiffs failed to show they suffered the same harm as the participants in unrelated plans that the plaintiffs did not participate. The U.S. Supreme Court has refused to review the case.

In light of the Fifth Circuit ruling, ERISA counsel must understand key issues regarding standing, class certification, and other challenges to effectively advise clients and minimize claims.

Listen as our panel provides an in-depth analysis of key substantive and procedural issues addressed in recent court rulings, standing in excessive fee cases and other issues, remedies, plan investments, and monitoring fee structures, as well as outlines effective strategies for defending and avoiding fiduciary duty claims.

Outline

  1. Fiduciary liability for defined benefit plans
  2. Standing in ERISA litigation in light of recent cases
  3. Navigating participant claims and other key issues
  4. Best practices for fiduciaries and plan administrators

Benefits

The panel will discuss these and other critical issues:

  • Understanding the fiduciary responsibilities of defined benefit plan administration under ERISA
  • The extent of fiduciary duty liability under ERISA
  • Standing in ERISA litigation in light of recent cases
  • How to identify those issues that could result in fiduciary litigation
  • Best practices in avoiding and handling litigation premised on breach of fiduciary duty claims