Health Plan Apocalypse? What Retirement Plan Litigation Can Tell Us About the Coming Wave of Health Plan Class Actions

Thanks for attending our session at the Retail Law Conference, Health Plan Apocalypse? What Retirement Plan Litigation Can Tell Us About the Coming Wave of Health Plan Class Actions.

Here are some of the key takeaways for plan sponsors we discussed during the presentation:

1. Review governance documents. Consider having outside counsel review health plan and retirement plan governance documents every few years in light of recent litigation trends.
2. Button up your fiduciary process and documentation. Take a periodic look at your fiduciary process to ensure that it is robust, documented, and being followed.
3. Consider choice of fiduciaries. Pay particular attention to the individuals who are placed in fiduciary roles. They will be responsible for effectuating your fiduciary process, and they’ll be subject to discovery (including depositions) in the event of a lawsuit.
4. Monitor signs of impending litigation. ERISA class action litigation can take plan sponsors by surprise, but it doesn’t have to. By monitoring social media advertisements and requests for plan documents submitted by plan participants, you might be able to anticipate impending litigation and get ahead of the game in retaining litigation counsel.

Interested in staying up to speed on ERISA litigation trends? Sign up for our quarterly ERISA Litigation Update via our subscription center form.

Interested in a tailored presentation (for CLE credit) on ERISA litigation trends that are relevant to your business? Reach out to Jamie Fleckner or Jaime Santos, who will be happy to work with you to set something up.