Chicago partner Ted Becker gave the keynote speech at the 2015 ESOP Invitational Conference on March 23, 2015, on the topic: “The DOL Fiduciary Process Agreement: How Did We Get Here and Where Are We Going?”

Ted, who negotiated over an 18-month period with the U.S. Department of Labor to reach the Fiduciary Process Agreement entered into with GreatBanc Trust Company last year, gave insights into issues of concern to the DOL that are and are not addressed in the Agreement, how the ESOP community has been implementing the Agreement, and how the Agreement may affect ESOP transactions and administration going forward.

Ted also participated in a panel session on the subject, “Life After Dudenhoeffer,” which looked at the fiduciary landscape in the wake of the U.S. Supreme Court’s decision last hear in the Fifth Third Bank v. Dudenhoeffer case. This discussion focused on fiduciaries of private ESOP companies and look at some “real world” ideas to deal with the decision and other cases decided since then

The 2015 ESOP Invitational is a joint conference of the Carolinas and Mid-Atlantic chapters of The ESOP Association, the largest employer sponsored advocacy and education association focused on retirement savings in America. With 18 chapters across the country, the ESOP Association serves approximately 2,800 employee stock ownership plan (ESOP) companies, professionals with a commitment to ESOPs, and companies considering the implementation of an ESOP. To learn more about The ESOP Association and its national and chapter conferences, click here.

 

Source: 2015 ESOP Invitational Conference