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Season 4, Episode 12: Forfeitures, Meeting Minutes & More
In a “live” version of the Nevin & Fred podcast at the
Strategic Retirement Partners (SRP) annual conference, Nevin & Fred (& Bonnie Treichel & Tom Clark) covered recent litigation trends—and more!
In recent months, the plaintiffs’ bar has “discovered” a new litigation target: the use of forfeitures to offset employer contributions, rather than to offset plan fees
or to reallocate them to the remaining participants in the plan. The expanded expert podcast panel reviews the
current status, the trend(s), and what plan fiduciaries can/should do about it.
And—on a related topic—what should/shouldn’t be included in committee meeting minutes!
Episode Resources
What Expenses Can Be Paid from Plan Assets? https://www.asppa-net.org/news/2018/10/what-expenses-can-be-paid-plan-assets/
7 Steps To Reduce Fiduciary Exposure https://www.napa-net.org/news/2019/2/7-steps-reduce-fiduciary-exposure/
New Fiduciary Suits, TDF Demographics and a Prudent Process
Primer https://www.napa-net.org/news/2024/4/new-fiduciary-suits-tdf-demographics-and-prudent-process-primer/
Litigation Landscape Some 'Wins,' Some Losses and a New
Litigation Target https://www.napa-net.org/news/2023/11/litigation-landscapesome-wins-some-losses-and-new-litigation-target/
DOL Successfully Sues Employer for Misuse of Forfeitures https://www.napa-net.org/news/2024/1/dol-successfully-sues-employer-misuse-forfeitures/
Limiting Fiduciary Liability (Costs) https://www.napa-net.org/news/2021/8/limiting-fiduciary-liability-costs/
IRS Proposes Regs to Clarify Timing and Use of Forfeitures https://www.napa-net.org/news/2023/2/irs-proposes-regs-clarify-timing-and-use-forfeitures/
Expert Opinions https://www.napa-net.org/news/2019/2/expert-opinions/
The forfeiture suits to date. https://www.napa-net.org/header/search/?q=forfeitures
ERISA Advisory Council testimony by:
Bonnie Treichel - https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/about-us/erisa-advisory-council/2024-qdia-treichel-written-statement-07-10.pdf
Tom Clark: https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/about-us/erisa-advisory-council/2024-qdia-clark-written-statement-07-10.pdf
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By Nevin Adams
4.9
1717 ratings
In a “live” version of the Nevin & Fred podcast at the
Strategic Retirement Partners (SRP) annual conference, Nevin & Fred (& Bonnie Treichel & Tom Clark) covered recent litigation trends—and more!
In recent months, the plaintiffs’ bar has “discovered” a new litigation target: the use of forfeitures to offset employer contributions, rather than to offset plan fees
or to reallocate them to the remaining participants in the plan. The expanded expert podcast panel reviews the
current status, the trend(s), and what plan fiduciaries can/should do about it.
And—on a related topic—what should/shouldn’t be included in committee meeting minutes!
Episode Resources
What Expenses Can Be Paid from Plan Assets? https://www.asppa-net.org/news/2018/10/what-expenses-can-be-paid-plan-assets/
7 Steps To Reduce Fiduciary Exposure https://www.napa-net.org/news/2019/2/7-steps-reduce-fiduciary-exposure/
New Fiduciary Suits, TDF Demographics and a Prudent Process
Primer https://www.napa-net.org/news/2024/4/new-fiduciary-suits-tdf-demographics-and-prudent-process-primer/
Litigation Landscape Some 'Wins,' Some Losses and a New
Litigation Target https://www.napa-net.org/news/2023/11/litigation-landscapesome-wins-some-losses-and-new-litigation-target/
DOL Successfully Sues Employer for Misuse of Forfeitures https://www.napa-net.org/news/2024/1/dol-successfully-sues-employer-misuse-forfeitures/
Limiting Fiduciary Liability (Costs) https://www.napa-net.org/news/2021/8/limiting-fiduciary-liability-costs/
IRS Proposes Regs to Clarify Timing and Use of Forfeitures https://www.napa-net.org/news/2023/2/irs-proposes-regs-clarify-timing-and-use-forfeitures/
Expert Opinions https://www.napa-net.org/news/2019/2/expert-opinions/
The forfeiture suits to date. https://www.napa-net.org/header/search/?q=forfeitures
ERISA Advisory Council testimony by:
Bonnie Treichel - https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/about-us/erisa-advisory-council/2024-qdia-treichel-written-statement-07-10.pdf
Tom Clark: https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/about-us/erisa-advisory-council/2024-qdia-clark-written-statement-07-10.pdf