Patrick S. Menasco

Patrick Menasco is a partner in and former co-chair of the firm’s ERISA & Executive Compensation practice. With over 30 years of public and private sector experience, Mr. Menasco enjoys longstanding connections with regulators and a broad proficiency in Title I and Title IV of ERISA and the regulation of IRAs under the Internal Revenue Code. His clients include national and international private equity and real estate fund sponsors, financial institutions, technology startups and crypto/digital asset investors, traders and service providers. His practice focuses on ERISA regulatory exceptions for private investment funds, ERISA and IRA regulatory issues in crypto/digital asset markets, the operation and management of collective trusts, stable value funds and other ERISA-regulated funds, Title IV merger and acquisition issues, ERISA-regulated capital market transactions, U.S. Department of Labor investigations, and ERISA litigation strategies.

Representative matters:

• TA Associates $12.5 billion Fund XIV
• Advent International $25 billion GPE Fund X
• Private Crypto/Digital Asset Fund ($2 billion)
• Restructuring of $30+ billion real estate collective trust*
• Represented seven major asset managers in U.S. Department of Labor criminal waiver proceedings*

* Denotes experience prior to joining Goodwin

Mr. Menasco served as an adjunct professor at the George Washington University Law School from 2008 to 2018. He sits on the emeritus board of the Lambda Legal Defense and Education Fund, Inc. and is a member of the faculty of the Practicing Law Institute, where he is a frequent speaker on ERISA investment issues.

Mr. Menasco is regularly recognized by Chambers USA and The Legal 500 as one of the top lawyers for employee benefits and executive compensation.

• Patrick S. Menasco, Bibek Panday and John J. Cleary, Goodwin Procter LLP, Alert, The Department of Labor Finalizes Changes to the QPAM Exemption - A Favored Management Tool Gets Less User-Friendly (April 9, 2024), ERISA Fiduciary Investment Basics 2025, Practising Law Institute, March 2025
• Patrick S. Menasco, Michael K. Isenman and James O. Fleckner, Goodwin Procter LLP, Minding the Store: Unanticipated ESG Issues Affecting ERISA Fiduciary Supervision (July 11, 2024), Advanced Pension Plan Investments 2024, Practising Law Institute, November 2024
• QPAM Exemption for Private Funds, Advanced Pension Plan Investments 2024, Practising Law Institute, November 2024
• Alison V. Douglass, Patrick S. Menasco and Bibek Pandey, Investments in Brokerage Windows: Understanding Fiduciary Responsibilities Under ERISA Section 404(c), ERISA Plan Investments in the Financial Markets 2024: The Fundamentals, Practising Law Institute, March 2024
• Patrick S. Menasco, et al., Goodwin Proctor LLP, Alert, Rushing to Chaos: The U.S. Department of Labor’s Well-Intentioned, Yet Unworkable Proposal to Redefine Fiduciary Investment Advice (December 29, 2023), ERISA Plan Investments in the Financial Markets 2024: The Fundamentals, Practising Law Institute, March 2024
• Additional Considerations Relating to Alternative Investment Vehicles and Recent DOL Developments Applicable to Investment Vehicles, ERISA Plan Investments in the Financial Markets 2024: The Fundamentals, Practising Law Institute , March 19, 2024
• Current Issues in Plan Investment: Buy-Side Issues, Pension Plan Investments 2023: Advanced Perspectives, Practising Law Institute, November 14, 2023
• ESG Investment Regulation under ERISA, Pension Plan Investments 2023: Advanced Perspectives, Practising Law Institute, November 2023
• Crypto and Private Equity Investments in ERISA Plans, ERISA Fiduciary Investment Basics 2023, Practising Law Institute, March 2023
• Exemptions/Advisory Opinions and DOL Regional Investigations, Program: ERISA Fiduciary Investment Basics 2023, Practising Law Institute, March 21, 2023
• Current Issues in Plan Investment: Buy-Side Issues, Pension Plan Investments 2022: Advanced Perspectives, Practising Law Institute, November 15, 2022
• Fiduciary Investment Duties—ESG Considerations, Pension Plan Investments 2021: Advanced Perspectives, Practising Law Institute, November 2021
• Fiduciary Investment Duties Regulation—Shareholder Rights, Pension Plan Investments 2021: Advanced Perspectives, Practising Law Institute, November 2021
• Current Issues in Plan Investment: Buy-Side Issues, Pension Plan Investments 2021: Advanced Perspectives, Practising Law Institute, November 16, 2021
• Governmental, Taft-Hartley, IRA and Non-U.S. Investors, Pension Plan Investments 2020: Current Perspectives, Practising Law Institute, October 13, 2020
• Private Fund Issues—Foreign (Non-US) Plan and Sovereign Wealth Investors, Pension Plan Investments 2020: Current Perspectives, Practising Law Institute, May 2020
• ERISA Regulation of Hedge Fund Investments,” ERISA Plan Investments in Financial Markets 2020: The Fundamentals, Practising Law Institute, March 2020
• Regulatory Update, Pension Plan Investments 2019: Current Perspectives, Practising Law Institute, May 07, 2019
• Patrick S. Menasco and Bibek R. Pandey, The DOL Process: Exemptions & Advisory Opinions, ERISA Fiduciary Investment Basics 2019, Practising Law Institute, March  2019
• The DOL Process:  Exemptions & Advisory Opinions, ERISA Fiduciary Investment Basics 2019, Practising Law Institute, March 18, 2019
• Update on Regulatory Issues for Financial Institutions, Practising Law Institute’s Pension Plan Investments 2018: Current Perspectives, May 22, 2018
• Derivatives and Other Financial Instruments, Practising Law Institute’s ERISA Plan Investments in Financial Markets 2018: The Fundamentals, March 19, 2018
• The DOL Process: Exemptions & Advisory Opinions, Practising Law Institute, March 20, 2017
• Repos, Securities Lending and Stable Value Funds, Practising Law Institute, February 3, 2016
• Regulatory Interaction with Plans, Practising Law Institute, August 4, 2015
• Department of Labor, Office of Exemption Determinations: Updates, Issues, and Perspectives,” Practising Law Institute, March 31, 2015
• Understanding Basic Financial Institution Activities, Practising Law Institute, February 4, 2015

Mr. Menasco is frequently quoted in the media on ERISA matters. Notable commentary includes:

• “The Push and Pull of CITs,” PlanSponsor (August-September 2020 Issue)
• “DOL Letters Seen as Further Effort to Restrict Use of ESG in Retirement Plans,” PlanSponsor (August 24, 2020)
• “403(b) Litigation Offers Instruction for Plan Sponsors,” PlanSponsor (January 3, 2020)