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

Duration: 60 minutes

Quick quiz: What’s the very first thing the IRS or DOL demands from plan sponsors during a plan audit or investigation of ERISA compliance? The answer (which surprises many) is: Committee meeting minutes. Most companies understand that a committee of carefully selected employees should jointly share the fiduciary responsibility of 401K oversight. Unfortunately many companies appoint a Committee and do little else to comply with their fiduciary obligations. This session will give them the critical training they need. (more details below)


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.

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                    Participation in the live upcoming webinar

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                    Full MP4 recording of webinar, including Q&A. Choose digital download or CD-ROM by mail.

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                    Live + Recording

                    Participation in the live webinar + Full MP4 Recording. For recording, choose digital download or CD-ROM by mail.

                    Event Package

                    Event Value Pack

                    Participation in the live webinar + Full MP4 Recording + Audio-only MP3 recording. For recordings, choose digital download or CD-ROM by mail.

                    What You Get With Each Option close

                    Live Recording

                    Live Only

                    Participation in the live upcoming webinar

                    Recording

                    Recording Only

                    Full MP4 recording of webinar, including Q&A. Choose digital download or CD-ROM by mail.

                    Live and Recording

                    Live + Recording

                    Participation in the live webinar + Full MP4 Recording. For recording, choose digital download or CD-ROM by mail.

                    Event Package

                    Event Value Pack

                    Participation in the live webinar + Full MP4 Recording + Audio-only MP3 recording. For recordings, choose digital download or CD-ROM by mail.

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