Guide employers, investment committees, investment managers and advisors, trustees, and other plan service providers through ERISA’s fiduciary requirements and applicable DOL regulations to help minimize the risk of liability.
Provide advice on prohibited transaction and prudence questions, advise on the allocation of fiduciary responsibilities, consult on a wide variety of pension investment questions, assist clients with the establishment of governance best practices (including Investment Policy Statement), conduct training, and advise on fiduciary responsibilities.
Attend Trustee meetings, when called upon, to provide counsel to the Trustees on issues, as they arise.
Draft and review agreements that allow a plan sponsor to appoint an investment manager as an ERISA 3(38) fiduciary that has discretion, authority, and control over plan assets.
Review, negotiation, and coordination of various plan investment documentation relating to various investment vehicles across a multitude of asset classes (i.e., private equity, real estate, large/mid/small cap equity and fixed income) including but not limited to investment manager agreements, side letters, participation agreements, subscription agreements, limited partnership agreements and amendments, consents, and other agreements for U.S. and non-U.S. investments.
Work closely with plan investment consultants concerning fiduciary aspects related to the selection of appropriate investment managers and vehicles based on tax and business needs of ERISA fund clients.
Provide counsel to plans and their investment professionals concerning review of investment managers across all asset classes including preparation of annual investment manager certifications and attendance at annual performance review of investment managers. Assist trustees and investment consultants in analyzing advantages and disadvantages of various investments from legal perspective.