Episode Description

You would have to have been living under a rock for the past few years if you are an employer who sponsors a retirement plan and you haven't notice the dramatic increase in the number and pace of 401(k) lawsuits.  There is even a 401(k) case that went to the Supreme Court!  To help employers understand what is driving 401(k) lawsuits, common themes in current litigation and ways employers can manage risk, I invited David Levine, Principal and ERISA Attorney at Groom Law to the podcast to offer some perspective.  David is an annual fixture on the lists of Super Lawyers, Best Lawyers, etc. and more importantly lives and breathes ERISA matters.  As you will hear, while employers continue to get better at executing their duties as fiduciaries, plaintiff's attorneys also are getting better at exploiting gaps and inconsistencies in fiduciary processes.  Also, we discuss what is really motivating plaintiff's attorneys, recent initiatives of the DOL and why he hopes more companies fight plaintiff's attorneys so that more lines are drawn.    

Guest Bio

David N. Levine is a principal at Groom Law Group, Chartered.  He advises plan sponsors, advisors, and other service providers on a wide range of employee benefits matters, from retirement and executive compensation to health and welfare plan matters.  

 

Mr. Levine's areas of service include: the redesign of complex retirement, executive, and health and welfare plans; ongoing, day-to-day counseling of plan sponsors; in-depth compliance reviews of corporate and governmental benefit programs; and representation of tax-exempt organizations with respect to issues involving corporate governance, executive compensation, and unrelated business income tax liability.

 

Mr. Levine was previously the Chair of the IRS Advisory Committee on Tax Exempt and Government Entities (2011-2013) and is currently a member of the Executive Committee of the Defined Contribution Institutional Investment Association and serves in a number of leadership roles in the American Bar Association Tax Section's Employee Benefits Committee.  Mr. Levine regularly speaks on plan design, fiduciary governance, and legislative issues and contributes a recurring column to NAPA Net — The Magazine.  He is recognized in The Legal 500 and USA Chambers guide for Employee Benefits & Executive Compensation.  Mr. Levine received his J.D., from the University of Pennsylvania Law School and his B.A., with general and departmental honors, from Johns Hopkins University.

 

401(k) Fridays Podcast Overview

Welcome to the 401(k) Fridays Podcast, where employers come to learn and retirement industry leaders come to share their unique stories, experiences and perspectives.  My name is Rick Unser, and I am your host.  Each episode leverages my nearly two decades of experience as a retirement consultant and features a candid interview with an industry expert to help enhance fiduciary protection, streamline plan operations or improve participant retirement readiness.  

For more information please visit www.401kfridays.com