The DOL’s New Rule on ERISA Investment Duties and Its Relationship to ESG

Richard C. Shea | Covington & Burling LLP

Richard Shea is immediate past chair of Covington’s Employee Benefits and Executive Compensation practice. Richard is widely regarded as a leading authority on benefit plan design, whether legacy, innovative, simple, or complex. His practice spans the full breadth of activities needed to help his clients resolve novel, sensitive, or intractable issues. His approach focuses on developing important new legal insights and ideas, and then combining them into effective litigation, legislative, regulatory, transactional, and/or benefit design strategies for his clients.

Before joining Covington in 1991, Richard served as Associate Benefits Tax Counsel at the Treasury Department, where, together with his colleagues at the Treasury Department and the Internal Revenue Service, he was responsible for developing federal tax legislation and regulations governing employee benefits and executive compensation, including regulations implementing the landmark Tax Reform Act of 1986.

Jason M. Levy | Covington & Burling LLP

Jason Levy helps clients navigate complex issues related to employee benefits and executive compensation, including compliance with the Internal Revenue Code and ERISA. Jason utilizes his deep knowledge in the ERISA space and his background as a former litigator to craft advice that is both practical and strategic. His practice includes:

• Counseling on design, establishment, administration, and maintenance of qualified defined contribution and defined benefit retirement plans
• Designing, drafting, and amending a wide range of executive compensation arrangements, including nonqualified deferred compensation plans, equity incentive plans, and change in control bonus plans
• Representing employment, human resources, and benefit interests in mergers and acquisitions
• Advising clients on multiemployer plan operations and risk management, including withdrawal liability and plan funding issues
• Providing benefits expertise in legislative initiatives

Jack G. Lund | Covington & Burling LLP

Jack Lund is an associate in the firm’s Washington, DC office where he is a member of the Employee Benefits and Executive Compensation practice group. Jack advises clients on all aspects of employee benefits including tax-qualified retirement plans, health and welfare plans, Individual Retirement Arrangements, global incentive plans, executive compensation, ERISA litigation, and corporate transactions. In so doing, Jack is particularly adept at designing and implementing comprehensive strategies that solve his clients’ most difficult regulatory and legislative problems.

Adam Spiegel | Covington & Burling LLP

Adam Spiegel is an associate in the firm’s Washington, DC office. He is a member of the Employee Benefits and Executive Compensation practice group, and the Energy and Environmental practice group.

I. Situating the new rule in its historical context | 11:00am – 11:15am

II. Evaluating the legal impact of the new rule | 11:15am – 11:30am

III. Addressing steps employer plan fiduciaries can take to ensure compliance with the new rule | 11:30am – 11:45am

IV. Avoiding potential traps for the unwary | 11:45am – 12:00pm