ERISA Fiduciary Expert in Defined Contribution Plans

Case Description:

An ERISA fiduciary expert was sought for a class action involving defined contribution plans. At issue was publicly traded stock in an energy company sponsored 401(k) plan. Plaintiffs alleged the defendants breached their fiduciary duties under the Employee Retirement Income Security Act of 1974, or ERISA, with respect to the plan's holdings of company stock. Plaintiffs sought to have losses that were incurred as a result of the breach of fiduciary duty restored to their defined contribution plans.

The client required an expert in fiduciary duties as prescribed by ERISA, specifically in regard to a publicly traded stock in a 401(k) plan. The client preferred an expert with a background in the energy industry. It was important that the expert had held a senior management position responsible for overseeing ERISA regulated retirement plans and could elaborate on fiduciary responsibilities.

Experts Presented:

  • ERISA Compliance Expert

    This ERISA compliance expert spent almost three decades with the US Department of Labor overseeing pension plans. He has a wide breadth of regulatory enforcement experience specific to the Employment Retirement Income Security Act in conducting audits and investigations, compliance settlements, and ERISA training. Part of his responsibilities for many years was ERISA training for field and national staff for the Pension and Welfare Benefits Administration. Currently he serves as an independent fiduciary for employee benefit plans nationwide, including several energy and public utility companies. IMS Reference #4978494

  • Financial Planning Expert

    This financial planning expert leads a consulting firm specializing in retirement plan investment and strategies. The firm regularly provides investment counsel to ERISA administration teams to ensure ERISA fiduciary compliance. He has a strong background in defined contribution plans. The author of a well-received book on investments and 401K plans, he has been frequently quoted in national business publications on the fiduciary responsibilities of retirement plan fiduciaries. He has previous expert witness experience testifying in court. IMS Reference #4978414

  • Energy Industry Expert

    A former senior executive with an energy company operating in more than 21 states, this energy industry expert has more than fifteen years of experience in corporate governance. He has case specific experience with securing outside financing and venture capital infusions for company growth. Another aspect of his industry experience is his involvement as a consultant for utility based benefit programs. He is an experienced expert witness who has worked on energy industry cases and on class action litigation. IMS Reference #4978402

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