Learn what ERISA's fiduciary duties are and when and to whom they apply.
Gain a comprehensive and practical understanding of your or your clients' fiduciary duties concerning 401(k)'s and other retirement plans. You will learn about practical strategies used to avoid fiduciary status where advisable and satisfy your fiduciary duties when necessary and appropriate. You will also gain an understanding of how to guard yourself against exposure to liability for alleged breaches of fiduciary duties.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Pre-ERISA Background and Common Law Meaning of Fiduciary
Enactment of ERISA and ERISA Pre-Emption
Which Plans Are Subject to ERISA?
ERISA Definition of Fiduciary - Function Over Form
Identification of Fiduciaries in Plan Documents
Original ERISA Model: Pooled Investments, Defined Benefit Plans, and Modern Portfolio Theory
ERISA's Articulation of Fiduciary Duties: Loyalty, Expertise, Prudence, Diversification
Prohibited Transactions
Special Rules for Employer Stock and ESOPs
Personal Liability of Fiduciaries and ERISA Limits on Indemnification
Fiduciary Committees and Co-Fiduciary Liability
Fiduciary Liability Insurance
No Requirement of Prescience or Guarantee of Outcomes; Procedural Prudence
ERISA § 404(c) and the 401(k) Explosion
Importance of Fees and Fee Disclosures
Role of Advisors I - Education vs. Advice
Role of Advisors II - Assumption of Fiduciary Responsibility as Advisor Business Model
PPA 2006 Introduces More Safe Harbors; Qualified Default Investment Alternatives (QDIAs) - What They Are and Extent of Fiduciary Protection
ERISA Litigation Basics and Practical Realities
DOL Enforcement Activities
Intensified Focus on Plan Costs and Disclosure
Recent Litigation Trends
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on February 3, 2022.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.2
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.2 hours credit.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WA CLE 1.25
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.25 hours of A/V credit under the Law & Legal Procedure category.
HR Certification Institute 1.25
- This E-Learning program has been pre-approved for 1.25 (General) recertification credit hours toward aPHR®, aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM), and SPHRi(TM) recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
SHRM 1.0
- Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDC(s) for the SHRM-CP or SHRM-SCP.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
- Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Luke D. Bailey
Clark Hill PLC
- Senior Counsel in the Collin County, TX office of Clark Hill PLC
- Practices in all aspects of employee benefits and executive compensation
- Conducts regular seminars and workshops on numerous employee benefits and executive compensation issues
- Author of numerous articles related to the areas of employee benefits and executive compensation
- J.D. degree, Order of the Coif, University of California at Berkeley (Boalt Hall); A.B. degree, cum laude, Occidental College
- Can be contacted at 214-651-4572 or [email protected]
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
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- OnDemand Courses
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- Course Manuals
- Executive Reports
- White Papers and Articles
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- State Specific Credit Tracker
- All-Access Pass Course Concierge
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