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Fiduciary Advice

  • Created a proprietary risk assessment tool that provides a unique way of identifying and measuring fiduciary, plan-governance, and operational risk for employers who sponsor a retirement plan. The report generated with this tool serves as a benchmark for process-improvement strategies.
  • Developed a sophisticated plan-governance structure for the qualified plans of a Fortune 100 publicly-traded company so as to reduce the risk of ERISA fiduciary liability for its board of directors and officers.
  • Conducted a comprehensive review and analysis of the fiduciary processes and procedures used by three multiemployer benefit funds with over $7 billion in assets.
  • Advised a number of 401(k) plan service providers and plan sponsors in connection with 401(k) “excessive fee” issues.
  • Advised clients with 401(k) plans that hold company stock about their fiduciary risks and obligations in light of recent stock-drop litigation.
  • Assisted employers in making submissions to the Department of Labor under the DOL’s Voluntary Fiduciary Correction Program.
  • Prepared a comprehensive risk assessment of the employee benefit plans and programs maintained by a large public hospital.
  • Assisted employers and plan sponsors in negotiating the resolution and settlement of Department of Labor investigations. In one case, the DOL’s demand for over $2 million in “lost profits” was settled for an additional contribution of only a few hundred dollars.