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

Duration: 60 minutes

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.   (more details below)


    WHY ATTEND 

    What is the very first thing the IRS or DOL demands from plan sponsors during a plan audit or investigation of ERISA compliance?

    The answer may surprise you: Committee meeting minutes.

    Most companies understand that a committee of carefully selected employees should jointly share the fiduciary responsibility of 401K oversight. But unfortunately many companies appoint a Committee and do little else to comply with their fiduciary obligations.

    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 lay out 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. is a partner in the Duane Morris Employee Benefits and Executive Compensation Practice Group and the Duane Morris Corporate Practice Group.

    His employee benefits practice encompasses the entire 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.

    His corporate practice encompasses general corporate law with an emphasis on commercial finance.

    Mr. Reade is a 1994 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.

    Certification

    This program has been approved for 1.0 recertification credit hour(s) through the HR Certification Institute (HRCI) & Society for Human Resource Management (SHRM).

    What You Get With Each Option

    Live Recording

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    Participation in the live upcoming webinar

    Recording

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    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.

    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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