New York, NY, June 15, 2011 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Michael Hadley, incoming Partner, Davis & Harman LLP will speak at the Knowledge Congress’ webcast entitled: “401(k) Fees: What You Need to Know in 2011.” This event is scheduled for August 9, 2011 at 3:00 PM - 5:00 PM ET.
For further details, please visit: http://knowledgecongress.org/event_2011_401k_Fees.html
One of the key issues that will surely be a challenge for plan fiduciaries and participants is the multiple sets of regulations relating to 401(k) fees which were recently released by the Department of Labor. The regulations call for service providers to 401(k) plans to deliver more information about their services and fees to plan fiduciaries. Plan fiduciaries will be expected to review and consider this information in making decisions regarding the reasonableness of 401(k) plan services and fees. In addition, plan fiduciaries must provide new disclosures to participants, who self-direct their accounts, including more information about investment-related expenses as well as administrative and individual expenditures and may be liable if participants incur investment losses and participant disclosure was not complete as required by the new regulations. While the new disclosure regulations are intended to improve the information that plan administrators and participants receive about 401(k) plan fees and expenses, implementation of the new requirements is expected to be complex and costly for plans as well as service providers, and plan fiduciaries may find that interpreting these requirements is difficult and could be confusing.
The Knowledge Group is assembling a panel of distinguished thought leaders, professionals and key regulators to help plan fiduciaries and participants understand issues arising from the new 401(k) fees disclosure rules. The speakers will present their expert opinions in a two-hour Live webcast.
About Michael Hadley
Effective August 1, Michael Hadley will join the law firm Davis and Harman LLP as a partner in the firm’s employee benefit and legislative practice, advising clients on the full range of tax, ERISA, and other laws affecting benefit plans. He has a particular focus on helping financial institutions that sell products to defined contribution and defined benefit plans, IRAs and 529 plans navigate the special rules that govern those plans.
He is joining Davis and Harman from the Investment Company Institute, where he was Associate Counsel for Pension Regulation. His responsibilities included advocating for the Institute’s membership on retirement security issues and assisting members and Institute staff in understanding tax and ERISA rules that affect defined contribution plans, IRAs, and similar savings vehicles. Among other duties he managed the Institute’s work implementing the Pension Protection Act and responding to 401(k) fee, investment advice, and fiduciary developments in Congress, DOL, and the courts.
Mr. Hadley is a frequent speaker on the latest retirement savings policy developments coming out of Congress and the regulatory agencies. He co-authored The Economics of Providing 401(k) Plans: Services, Fees, and Expenses, 2009 ICI Research Fundamentals, Vol.19, No. 5 (August 2010) (with Sarah Holden and Shaun Lutz) and 401(k) Plans: A 25-Year Retrospective, ICI Research Perspective, Vol. 12, No. 2 (Nov. 2006) (with Sarah Holden and Peter Brady).
Prior to joining the Institute, Mr. Hadley was an associate at Covington & Burling LLP, where he advised clients on a broad range of employee benefit plans and executive compensation arrangements, provided expert advice on ERISA litigation, and assisted with pension and benefits issues in mergers, acquisitions, and other corporate transactions.
About Davis & Harman LLP
The law firm of Davis & Harman LLP helps financial institutions, trade associations, insurers, and large corporations find effective solutions to taxation, insurance law and employee benefit challenges. Davis & Harman provides expert counsel and one-stop service regarding health and welfare plan benefits, executive compensation, life insurance products and retirement savings vehicles.
For more information about Davis & Harman LLP please visit: http://www.davis-harman.com/
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register to an event, please visit: www.knowledgecongress.org.