LAW-2679 Retirement Plans under ERISA and the IRC
This course provides an introduction to the federal law governing the vast area of retirement plans sponsored by private-sector employers. For example, about 70 million employees are active participants in over 700,000 401(k) plans that currently hold over $7 trillion in assets. This course examines the basic principles of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code in terms of how these laws apply to the design and administration of employee retirement plans, to the employers who sponsor them, and to other parties who provide services to the plans. Topics include defining "employee" for purposes of ERISA, plan design issues, requirements for qualification for preferential tax treatment on the part of employers and employee/plan participants, restrictions on plan investments, the critical concept of plan "fiduciary," litigation involving excessive fee cases, and other timely topics. The emphasis in the course will be on practical considerations facing the lawyer, whether advising the employer/plan sponsor, the plan, or the plan participants, and also issues facing lawyers who advise the investment community providing services to the plan.
Recommended prerequisite: Basic Federal Income Tax