Event Details

Presentation: Legal and Regulatory Update: Litigation against Wall Street Retirement Plans, Revenue Sharing and the ERISA Fiduciary

This presentation is designed to educate attendees about recent trends in retirement plan litigation, in particular: cases against firms that provide investments and administrative services for retirement plans. One aspect of this litigation is excessive fees and the use of revenue sharing or “rebates”, which is thoroughly examined. This session provides a brief discussion of the Department of Labor’s Fiduciary Rule – and its ultimate demise, and it closes with a discussion about the obligations that ERISA imposes on retirement plan fiduciaries.  

Our Speaker: Michael Smoots, ERISA Counsel at Qualified Plan Advisors.  Mike Smoots works at Qualified Plan Advisors as an attorney with a focus on ERISA services. Previously, Mike was a Vice President with a national recordkeeper. He negotiated agreements with asset managers, reviewing investments for their total cost and revenue sharing—maximizing these payments for retirement plan sponsors. He also reviewed hundreds of retirement plans, ranging in size from $10 million to $20 billion, relative to investment selection, plan design and revenue sharing, as a member of the finance team. Mike graduated from Kansas State University with a bachelor’s degree and earned his juris doctor from the University of Kansas.

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Roundtable Topic:  What steps have you taken to improve employee retention and motivation in your workplace?

Time and Location: Chapter meetings are held monthly on the second Wednesday of the month at the Robbins Center on the FHSU campus in Hays. Luncheon meetings begin with registration at 11:15 a.m. and the business meeting starting at 11:30 a.m.  The program is held after the business meeting and concludes around 1:00 p.m.