Our Fall 2016 Employee Benefits webinar featured updates on developments and trends in the employee benefits and executive compensation areas that are important to follow. More robust descriptions of each session can be found on the registration page. Our webinar provided an interactive experience between attendees and presenters with ample opportunities to ask questions of the speakers to better determine how these issues will impact their businesses and organizations.
11:30 a.m. Changes to the IRS Determination Letter Program
Jeffrey R. Capwell, Partner
This program will radically change after the current determination letter filing cycle ends on January 31, 2017. We will review how the new program will work, its implications for plan sponsors and potential strategies for employers to consider to have comfort that their individually designed plans continue to be tax-qualified.
11:45 a.m. Cybersecurity Basics for Employee Benefit Plan Fiduciaries
Larry R. Goldstein, Senior Counsel
Maria P. Rasmussen, Senior Counsel
With cybersecurity being in the news virtually every day, we will discuss what benefit plan fiduciaries should do in order to protect participant data stored online. We will consider whether ERISA’s fiduciary responsibility provisions apply and if so, the resulting consequences. We will also address precautions fiduciaries should take as to vendors having access to participant data. <
Sally Doubet King, Partner
Carolyn M. Trenda, Counsel
12:25 p.m. The New Round of 401(k) and 403(b) Plan Litigation
Taylor Wedge French, Partner
Robert M. Cipolla, Senior Counsel
The plaintiff’s bar continues to target 401(k) and 403(b) plan sponsors with allegations of breaches of fiduciary responsibilities to participants. As a retirement plan sponsor, it is essential to mitigate risk responsibility and put in place strict fiduciary protections and oversight procedures to avoid potentially damaging and costly litigation. Our discussion will focus on the recent 401(k) and defined contribution plan lawsuits and address best practices regarding the hot button items of fees and expenses and fiduciary processes and decisions in order to avoid such litigation.
12:45 p.m. Q&A Session