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Event Calendar / Lessons from Tussey v. ABB, Inc.-Best Practices to Avoid/Handle 401(k) Benefit Claims or Litigation
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Lessons from Tussey v. ABB, Inc.-Best Practices to Avoid/Handle 401(k) Benefit Claims or Litigation
Plan sponsors and fiduciaries have been hit by a barrage of class action and other lawsuits from retirement plan participants. A federal district court has just issued its decision following a trial in the case of Tussey v. ABB, Inc. holding the employer, each member of the plan committee individually and Fidelity Investments liable for a variety of ERISA violations with respect to revenue sharing, plan fees, plan investment selections, and float payments resulting in a nearly $40 million dollar verdict against the collective defendants. In addition, the Employee Benefits Security Administration of the United States Department of Labor has recently issued new 401(k) fee disclosure regulations that become effective in July of 2012 which can be expected to increase participant attention to (and possibly concerns regarding) their 401(k) plans. Fortunately, there are steps that can be taken to help protect you, your company (and, if you are a service provider, your clients) from 401(k) plan benefit claims and litigation. This webinar will feature a case study approach based on the decision in Tussey and others to help you formulate strategies to avoid and protect against lawsuits in your 401(k) plan and wil include the following:

· Lessons from the Federal Court’s ruling in Tussey v. ABB, Inc.

· Update on current ERISA and 401(k) litigation cases and enforcement actions

· Effect of recent non-ERISA class action cases on ERISA cases

· Fiduciary risk management strategies

· Fiduciary insurance overview

· Best practices for responding to participant claims and inquiries

· Best practices for handling Department of Labor investigations
05/10/2012 2:00 pm o'clock
05/10/2012 3:00 pm o'clock
Sherrie Boutwell
City
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Webcast information

Who should participate:

HR Managers, Benefits Managers, General Counsel, CFOs, Benefit Plan Service Providers

What you will learn:

1. What you can do now to reduce the risk of litigation with respect to your 401(k) plan 2. What to do if a participant makes a claim for a 401(k) plan benefit 3. What to do if you are contacted by the US Department of Labor regarding your 401(k) plan

Recommended Resources:

http://www.dol.gov/ebsa/
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