Good Risk Governance Pays

Good Risk Governance Pays

Investment Best Practices | Risk Management | Valuation

Category Archives: ERISA

Subscribe to ERISA RSS Feed

Educational Webinar About Pension Risk Management

Posted in ERISA, Pension, Risk Management, Susan Mangiero
Please join Dr. Susan Mangiero on November 2, 2016 for a one hour online program about pension risk management. The webinar is sponsored by the Professional Risk Managers’ International Association (“PRMIA“) in recognition of the importance of the subject. This learning event qualifies for one Continuing Professional Education (“CPE”) credit. A program description is shown below. You can… Continue Reading

Fiduciary Rule Panel to Discuss Implementation

Posted in ERISA, Investment Management, Regulation, Susan Mangiero
Dr. Susan Mangiero will join a panel of esteemed experts to talk about the U.S. Department of Labor’s Fiduciary Rule on June 21, 2016. Sponsored by the Financial Women’s Association, New Jersey chapter, CPE credit is available (CLE credit is pending). Meeting at the Seton Hall School of Law in Newark, this timely event features the following speakers:… Continue Reading

It’s Heeeere – The Fiduciary Rule Has Arrived – Now What?

Posted in Compliance, Disclosure and Transparency, ERISA, Fees, Fiduciary Liability, Governance, Investment Management, Mutual Funds, Regulation
Like most people who work in the financial services arena, I hastily downloaded the long anticipated “Fiduciary Rule” when it was released by the U.S. Department of Labor (“DOL”) on April 6, 2016 and am busy tackling this final version. With more than two hundred pages, it’s going to take longer than a lunch break but is nevertheless vital reading. DOL’s Fact… Continue Reading

Insights on Economic Analysis of Fiduciary Monitoring Disputes

Posted in ERISA, Fiduciary Liability, Investment Management, Litigation, Regulation, Susan Mangiero
While I typically avoid republishing posts from my other blog, Pension Risk Matters, there are numerous topics that are important to all types of investment industry professionals and not just those who work with retirement plan sponsors and participants. One such topic looks at investment monitoring and the fiduciary responsibilities to oversee and make changes,… Continue Reading

More About Fiduciary Outsourcing

Posted in ERISA, Fiduciary Liability, Pension
In an earlier commentary entitled “Fiduciary Outsourcing Considerations” (March 4, 2015), I talked about the expectations gap that arises when “a plan sponsor thinks that certain activities are going to be done by a fiduciary adviser, but the fiduciary adviser does not believe they are obliged to do such work…” I mentioned the work of… Continue Reading

Fiduciary Outsourcing Considerations

Posted in ERISA, Fiduciary Liability, Investment Management, Regulation
Plan Sponsor contributor, Judy Ward, takes a hard look at what many believe is a growing trend to outsource certain activities by retirement plan fiduciaries. A central theme in “Fiduciary Outsourcing Options” (February 2015) is that buyer and seller must be clear about the scope of work and document the agreement accordingly. This conversation importantly starts with a… Continue Reading

ERISA Litigation Conference Addresses Timely Fiduciary Issues

Posted in ERISA, Governance, Litigation, Pension, Regulation
Dr. Susan Mangiero announces the sponsorship of a forthcoming conference about ERISA litigation and regulatory issues by Fiduciary Leadership, LLC. Produced by the American Conference Institute (“ACI”), this mid-April event pairs attorneys (including corporate counsel) with jurists to address timely topics that include, but are not limited to, the following: Excessive fees; Church plan lawsuits; Fiduciary… Continue Reading

QPAM Exemptions For Money Managers Being Evaluated

Posted in ERISA, Regulation
For those who missed “Financial Firms as ERISA Plan Sponsors: The When, What and How of the QPAM Audit Requirement” on May 1, 2013, click to learn more about the Qualified Plan Asset Manager exemption and what it means to asset managers. Slides from this webinar – featuring ERISA attorney Howard Pianko (Seyfarth Shaw LLP), ERISA attorney… Continue Reading

Automated Investment Management and Fiduciary Liability

Posted in Broker Dealers, Compliance, ERISA, Investment Management, Litigation, Model Risk, Regulation, Venture Capital
As I read about the pros and cons of providing automated investment advice, I am reminded of one of my former financial modeling students. Knee deep in math and not very happy about the hard work ahead, he felt strongly that hiring someone else to do the “grunt” work would leave him free to tackle more… Continue Reading

ACI ERISA Litigation Conference – New York City

Posted in ERISA, Litigation, Pension
I have the pleasure of announcing that Fiduciary Leadership, LLC is one of the sponsors of this recurring educational conference. For a limited time only, I am told that interested parties can register early and receive a discount. Contact Mr. Joseph Gallagher at 212-352-3220, extension 5511, for details. Besides two full days of interesting and timely presentations, the American Conference… Continue Reading

ERISA Pension Plan Investing in Hedge Funds and Private Equity Funds

Posted in ERISA, Hedge Fund, Litigation
If you are interested in attending “ERISA Pension Plans: Mitigating Liability Risks for Hedge and Private Equity Fund Alternative Investments: Exercising Due Diligence to Avoid Investment Landmines for Institutional Investors and Fund Managers,” you can email if you would like one of the nine (9) guest passes that have been made available to me.… Continue Reading

ERISA Pension Plans: Mitigating Liability Risks for Hedge and Private Equity Fund Alternative Investments

Posted in ERISA, Hedge Fund, Private Equity
I have the pleasure of being part of an April 17, 2014 program for Strafford’s continuing legal education offerings for and about ERISA plans. As a courtesy, I can invite up to ten (10) professionals as my guest. If you are interested, send an email to with your name, email address, title and company… Continue Reading

Investment Fees and Portfolio Returns

Posted in Disclosure and Transparency, ERISA, Fees, Investment Management, Mutual Funds, Pension, Regulation
Although Whole Foods is one of my favorite grocery stores, I experienced sticker shock today when I bought fresh fish from Stop n’ Shop. Wild flounder at the former recently cost me $14.99 per pound in contrast to $7.99 at the latter. When I asked for comments, I was told that organic status might account… Continue Reading

QPAM and INHAM Compliance Audit Information For Hedge Funds

Posted in Compliance, ERISA, Governance, Hedge Fund
If you missed the September 10, 2013 webinar entitled “ERISA Assets: QPAM and INHAM Audit Legal Requirements and Best Practices – Navigating DOL Rules for Pension Asset Management Compliance,” click to access the slides. Produced as a Strafford Continuing Legal Education webinar and featuring ERISA attorney Howard Seyfarth, auditor Virginia Bartlett and investment compliance expert… Continue Reading

Qualified Professional Asset Manager (QPAM) Webinar Slides

Posted in Compliance, ERISA, Hedge Fund, Investment Management, Regulation
The U.S. Department of Labor estimates that there are roughly 4,400 financial organizations relying upon the DOL’s Qualified Professional Asset Manager (“QPAM”) class exemption when managing the assets of their own employee benefit plans. Maintaining QPAM status is important for these asset managers as this class exemption facilitates their ability to make investment decisions with… Continue Reading

Pension Risk Governance Blog In Its Seventh Year

Posted in ERISA, Governance, Pension, Risk Management
For those readers of who work with or for pension funds, you may be interested to know that our sister site,, is in its seventh year. With over a million visitors, this educational resource for the $30+ global retirement industry addresses a variety of topics to include, but not limited to, the following:… Continue Reading

401(k) Lawsuits, Investment Advisers and Fiduciary Breach

Posted in ERISA, Fiduciary Liability, Litigation
One wonders if financial professionals ever tire of new rules, regulations and the pressures of trying to do their job while avoiding liability landmines at the same time. Based on October 2012 comments made by several prominent ERISA attorneys – Michael Prame (Groom Law Group) and Fred Reish (Drinker Biddle & Reath LLC) – as part of the annual… Continue Reading

QPAM and INHAM Compliance Audit 101 For ERISA Asset Managers

Posted in Compliance, ERISA, Hedge Fund, Investment Management, Private Equity
  In this timely and informative webinar hosted by FTI Consulting, legal and compliance experts will provide critical information about the Qualified Professional Asset Manager (“QPAM”) exemption and related compliance audit requirement that applies to numerous financial institutions that manage or want to manage ERISA pension money. Speakers will likewise address the merits of managing money for captive… Continue Reading

Investment Style Drift and Litigation

Posted in Disclosure and Transparency, ERISA, Hedge Fund, Investment Management, Litigation
  Unlike Confucius who extolled the virtues of travel when he said that “A thousand miles begins with a single step,” change may not be a good thing for asset managers and their investors. In recent presentations by attorneys, I have heard more said about litigation related to investment style drift than ever before. The… Continue Reading

ERISA Pension Plans: Due Diligence for Hedge Funds and Private Equity Funds

Posted in Compliance, ERISA, Fees, Financial Expert, Fraud, Governance, Hedge Fund, Litigation, Pension, Private Equity, Risk Management, Valuation
Join me on May 1, 2012 for a timely and interesting program about alternative investment fund due diligence and other considerations for ERISA plan sponsors, their counsel and consultants. Click here for more information. This CLE webinar will provide ERISA and asset management counsel with a review of effective due diligence practices by institutional investors. Best practices… Continue Reading