Lawyer Jordan Schreier Quoted in the Law360 Article, “3 Gray Areas ERISA Lawyers Want Cleared Up”
Ann Arbor Lawyer Jordan Schreier was quoted in the Law360 article, “3 Gray Areas ERISA Lawyers Want Cleared Up”
The article asked select employee benefits attorneys what new law or regulatory change they would want passed if they could. Jordan said he would want enhanced legal protections for qualified retirement plan investment fund selections.
In regards to this, Jordan said he believed a safe harbor provision should be considered. Such a provision should prevent a committee’s fund selection decisions from being challenged “as long as the committee has met and talked about the fund selection and articulated reasons [why] they have selected a particular fund or an investment approach.” He said. “I serve as legal counsel to a lot of 401(k) investment committees, and it’s a constant topic of conversation.” Jordan said, “They spend a reasonable amount of time worrying about lawsuits despite the fact they’ve spent a lot of time doing due diligence.”
To read the full article, please click here.
