We specialize in ERISA and Title I issues, including structuring financial products to address complex ERISA concerns and advising clients regarding the ERISA fiduciary duty rules. In collaboration with our industry leading Investment Management practice, we represent investment managers and assist them in avoiding the application of ERISA, or managing assets subject to ERISA, as appropriate. We routinely provide support to ERISA fiduciaries to help them manage the complex and expansive ERISA rules.
We counsel and advise investment managers, broker-dealers and banks in their provision of services and sale of products to employee benefit plans, as well as plan trustees and plan sponsors in ensuring compliance with the ERISA rules. We offer unique solutions that provide the desired outcome for our clients while also meeting all the additional legal requirements that accompany the investment of employee benefit plan assets. The ERISA team provides comprehensive assistance regarding interactions with the Department of Labor, including negotiating agreements and providing assistance during DOL and SEC investigations.
Our ERISA team handles all types of ERISA matters for publicly-traded corporations, closely-held companies, plan trustees, investment managers, banks, broker-dealers and other plan fiduciaries, including:
- Structuring various investment products designed to comply with ERISA’s fiduciary rules, on behalf of the investing plans and the investment advisory firms offering those products, including hedge funds, private investment companies, group trusts and separate accounts
- Establishing ERISA compliance frameworks for ERISA fiduciaries, including identifying applicable prohibited transaction exemptions
- Assisting clients in the appropriate performance of the ERISA 25% test and providing advantageous ERISA structuring through methods including “hardwiring” and the use of the VCOC and REOC exceptions
- Structuring and reviewing CLO and ABS products to ensure compliance with applicable ERISA rules
- Assisting clients throughout regulatory enforcement actions and investigations of the DOL and IRS
- Compliance with the ERISA disclosure rules, including Form 5500 Schedule C reporting
- Structuring investment products and loans to address PBGC liability concerns
- Advising investment advisory firms, banks and other clientele with respect to ERISA considerations in financial instruments and arrangements, including credit facilities, prime broker arrangements and ISDAs