Benefits and executive compensation partner Brad Campbell and counsel Joan Neri participated in two panels at PLANSPONSOR’s 2021 Best Practices Conference. The publication shared the attorneys’ compliance and administration takeaways.
In “Understanding ERISA and Fiduciary Fundamentals,” Campbell discussed requirements for maintaining plan documents and operating a plan according to the Employee Retirement Income Security Act (ERISA), what should be reported to participants and regulators, and how sponsors can adhere to fiduciary duties.
During the “Outsourcing and What to Expect From Providers” panel, Neri addressed the types of outsourcing available to plan sponsors, from basic 3(16) administration services to full discretionary 3(38) investment management. She further described the importance of diligent monitoring to any outsourcing decision and emphasized that special attention should be paid to the 3(16) fiduciary marketplace.