Moderator: Stuart Bumpas
8:00 a.m. Registration, Continental Breakfast, Introduction
8:30 a.m. ERISA Litigation Update - 2010
Speaker: Vince Hess
The presentation will cover significant rulings over the past year, including the following:
- A decision by the U.S. Supreme Court addressing whether “a single honest mistake” should affect the plan administrator’s discretionary authority to interpret a plan.
- A decision by the U.S. Supreme Court defining for the first time the standard by which a claimant may recover attorneys’ fees under ERISA section 502(g)(1).
- A decision by the U.S. Supreme Court regarding the standard for evaluating whether fees paid to a mutual fund’s investment advisor are sufficiently large to be in violation of the advisor’s fiduciary duty.
9:00 a.m. Managing Fiduciary Duties When Selecting and Monitoring Plan Vendors
Speakers: Stefan Smith and Katy Zarolia
Plan sponsors can and regularly do seek the assistance of dedicated third-party service providers and advisors when managing the day-to-day functions of their plans, and the retirement and welfare plan service industry is extremely active and lucrative. This provides plan sponsors with many options when deciding how best to administer their plans, but the decision cannot be taken lightly because ERISA requires a plan’s fiduciaries to act prudently and solely in the interest of plan participants when selecting a plan service provider and also when monitoring that provider’s performance over time. Although federal law imposes this duty on plan fiduciaries, the duty is manageable if the fiduciaries understand their role in plan administration, maintain good practices and procedures, and take the time to evaluate carefully their options when selecting a vendor.
The presentation will (i) provide a basic introduction to the duties of a fiduciary under ERISA; (ii) help plan fiduciaries lay out a framework for an organized and successful vendor search; (iii) assist plan fiduciaries with separating marketing tactics from legal reality in the vendor marketplace; and (iv) give plan fiduciaries valuable information that will help ensure the successful management of the vendor relationship in the future.
9:45 a.m. Coffee Break
10:15 a.m. Retirement Plan Update
Speaker: Ed Razim
The discussion will focus on a number of current matters relating to qualified plans, including the new interim final regulations regarding fee disclosures for plan service providers, plan fiduciary obligations regarding the selection and monitoring of investment funds and the updated Department of Labor regulations regarding investment advice for plan participants.
10:45 a.m. Compliance Review for Employee Benefit Plans: A Periodic Checkup for Your Plan
Speaker: Larry Hansen
The IRS and the Department of Labor have stepped up their audit and enforcement activities with respect to retirement and welfare plans while recent legislative and regulatory changes have made compliance more difficult than ever. The discussion will focus on how a compliance review of your plan can help you identify plan problems before the regulators do, thereby protecting the plan sponsor and plan fiduciaries.
11:15 a.m. Health Reform: The Future of Health Plans
Speakers: Phil Bush and Jan Newsom
Health care begins a new era on September 23 when many of the required changes under recent health reform legislation become effective for health plan and policy years beginning on and after that date. This up-to-the-minute discussion will focus on:
- The practical aspects of offering and administering grandfathered health plans and the effect of dropping a current coverage option
- The tax implications of the new rules on dependent coverage, non-discrimination in both insured and self-insured benefits and the in’s and out’s of tax credits and vouchers for employers
- The continuing challenge of determining which preventive care procedures must be offered with no cost-sharing
- New rules on appeals of claims and coverage issues and soon-to-be required summaries of benefits
- The various new regulations and notification requirements applicable to all types of health care benefits.
12:00 p.m. Questions and Answers
12:15 p.m. Lunch – Lakewood Room
12:45 p.m. Luncheon Presentation
Speaker: John Patrick, Internal Revenue Service
1:15 p.m. Adjournment
RSVP to Rachel Wallace