401(K) Plan Committees: Fiduciary Responsibilities and ERISA Compliance

WHY ATTEND

401(k) Committees must be explicitly trained in fiduciary duties and held strictly responsible for a very specific list of tasks. Putting a bunch of smart, even investment-minded, employees on a fiduciary committee won’t protect your company if they aren’t well-versed in the fiduciary responsibilities or follow the steps required to meet applicable law.

This webinar will deliver the critical training benefit plan committees need in order to sufficiently protect the plan, their fellow employees, and the company. We’ll also discuss the risks of noncompliance, including DOL and IRS penalties, and layout best practices for building a top-notch Committee.

LEARNING OBJECTIVES

In this session, plan sponsors, committees and other interested parties including HR, senior executives and financial professionals will learn about:

• Building the ideal committee, selecting external advisors and working with plan providers
• Specific committee responsibilities and requirements, including:
• Maintaining charters
• Conducting meetings and preparing meeting meetings
• Drafting and revising investment policy statements
• Selecting and monitoring providers
• Evaluating and monitoring investment options and more
• How to perform an internal audit of your plan’s fiduciary oversight (an important distinction from auditing the plan itself)
• Why it’s not just the DOL and IRS to be weary of—what can be learned from recent high-profile cases brought on behalf of plan participants—the company’s own employees—alleging ERISA noncompliance

ABOUT THE SPEAKER

John A. Reade, Jr., a partner in the Duane Morris LLP Employee Benefits and Executive Compensation practice group, is recognized as an authority in the area of employee benefits. His background includes: Counseling and representing clients in the area of employee benefits, including executive compensation and severance agreements, qualified and nonqualified plans, health and welfare plans, ERISA litigation, employee benefits issues in corporate transactions, fiduciary related issues involving prohibited transactions and qualified plan advice and representation of clients before the DOL, IRS and PBGC. John speaks frequently across the country on developments in employee benefits and executive compensation. He is a magna cum laude graduate of Syracuse University College of Law, where he was a member of the Syracuse University Law Review, and a magna cum laude graduate of Syracuse University.