• videocam Live Webinar with Live Q&A
  • calendar_month August 6, 2026 @ 1:00 PM ET/10:00 AM PT
  • signal_cellular_alt Intermediate
  • card_travel ERISA
  • schedule 90 minutes

Prohibited Transaction Claims and Exemptions Post-Cunningham v. Cornell University

Pleading Standards; Statutory, Class, and Individual Exemption Rules; Current Issues and Challenges

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Discount expires 7/23/26

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About the Course

Introduction

This CLE course will provide ERISA counsel guidance on the prohibited transactions rules and available exemptions under ERISA post-Cunningham v. Cornell University, with an emphasis on application of these rules. The panel will discuss key areas of focus stemming from the ruling in Cunningham; critical provisions under ERISA and the Internal Revenue Code (IRC); applicable rules and procedures for statutory, class, and individual exemptions; fiduciary liability; and other critical issues for using prohibited transactions exemptions under ERISA.

Description

Section 406 of ERISA prohibits certain transactions between employee benefit plans and "parties in interest," requiring strict adherence by fiduciaries and participants. IRC 4975 may impose an excise tax on transactions involving participation by a "disqualified person." In addition, another category of prohibited transactions involves fiduciary self-dealing and conflicts of interest.

ERISA and the IRC provide specific broad-based statutory exemptions from the prohibited transaction rules. These exemptions apply to anyone who meets the specified requirements. In addition, the DOL issues class and individual exemptions, which are granted only under certain circumstances and after procedural requirements are met.

On Apr. 17, 2025, the U.S. Supreme Court issued its opinion in Cunningham v. Cornell University, resolving the circuit court split on the pleading standard for prohibited transaction claims under ERISA. The Court's ruling has lowered the pleading standards for ERISA claims, allowing plaintiffs to pursue prohibited transaction claims without addressing the statutory or regulatory exemptions that may defeat such claims.

The rules and procedures for obtaining a prohibited transaction exemption under ERISA and the IRC are complex. Employee benefits counsel and fiduciaries must identify transactions for potential violations and plan accordingly for any available exemptions.

Listen as our panel discusses key provisions under ERISA and the IRC, applicable rules and procedures for statutory, class, and individual exemptions, fiduciary liability, and other critical issues for obtaining prohibited transactions exemptions.

Presented By

Catherine L. Reagan
Attorney
Trucker Huss, APC

Ms. Reagan concentrates her practice in the area of employee benefits, with a focus on ERISA litigation. She represents plan sponsors, trustees, and other fiduciaries in a wide range of employee benefits cases, including 401(k) class action litigation, claims for medical, disability, and pension benefits, and cases involving executive compensation. In addition to her litigation practice, Ms. Reagan counsels clients on a variety of matters, including fiduciary responsibility and regulatory compliance. She also represents plan fiduciaries in Department of Labor investigations.

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Jennafer M. Tryck
Partner
Gibson, Dunn & Crutcher LLP
Credit Information

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


  • Live Online


    On Demand

Date + Time

  • event

    Thursday, August 6, 2026

  • schedule

    1:00 PM ET/10:00 AM PT

I. Key ERISA and IRC provisions, including common prohibited transactions such as late deposits, hiring a service provider, or sale of real property

II. Statutory exemptions (such as the new fee disclosure rules for health plans)

III. Class exemptions

IV. Individual exemptions

V. Fiduciary liability

VI. Mitigating the effects of Cunningham v. Cornell University

The panel will discuss these and other key issues:

  • What are the critical provisions under ERISA and the IRC regarding prohibited transactions?
  • How to comply with ERISA prohibited transaction requirements and how to correct a prohibited transaction if these requirements are not met
  • What type of exemptions are available, and what are the rules and procedural requirements?
  • What are the fiduciary rules and methods to avoid or minimize liability?
  • What are the steps to obtain a prohibited transaction exemption?
  • What is the impact of the Court's ruling in Cunningham v. Cornell Univ.?