Mark Wincek,Partner,Kilpatrick Townsend & Stockton LLP to Speak at TKG’s Speaking Opportunity -Latest Class Action Wave:Reasonability of Actuarial Factors in Pension Plans
The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Mark Wincek, Partner, Kilpatrick Townsend & Stockton LLP will speak at the Knowledge Group’s webcast entitled:“Latest Class Action Wave: Reasonability of Actuarial Factors in Pension Plans” This event is scheduled for May 30, 2019 from 12:00pm – 1:30pm (ET)
- (1888PressRelease) May 23, 2019 - For further details, please visit:
https://www.theknowledgegroup.org/webcasts/latest-class-action-wave/
About Mark Wincek
MARK D. WINCEK is a Partner and the senior member of the Employee Benefits Practice Group of Kilpatrick Townsend. His practice concentrates on executive compensation, qualified plans and fiduciary matters, and it encompasses counseling, transactions and controversies, including the recent ERISA litigation regarding pension actuarial factors. Mr. Wincek is the author of the chapter on “SERPs and Excess Plans” in the BNA Books Section 409A Handbook, and his list of professional publications includes dozens of articles on compensation and benefits issues. In addition, Mr. Wincek is a former Adjunct Professor of Law at Georgetown University Law Center and a member of the Tax Section of the American Bar Association, where he served as Chairman of the Statutory Welfare Benefits Subcommittee (1986-1990). From 1976 to 1981, Mr. Wincek was on the staff of the U.S. House Ways and Means Committee, serving as Senior Subcommittee Counsel to the Ways and Means Oversight Subcommittee in 1980 and 1981. Since 2005, Mr. Wincek has been listed in Chambers USA: America’s Leading Business Lawyers for Employee Benefits & Executive Compensation Law, as a “Leading Individual (Employee Benefits)” and as a member of a highly-ranked Washington benefits practice. He also has been listed in The Best Lawyers in America for Employee Benefits Law since 2005, and he is ranked as a “leading expert” in the Legal 500 (Employee Benefits and Executive Compensation). He has repeatedly been listed as a Corporate Counsel “Top Lawyer” and a Washington “Super Lawyer,” and he has been named repeatedly to Super Lawyer’s list of the top 100 Washington attorneys (without regard to specialty). Based on an independent survey of Fortune 500 companies, Mr. Wincek was named to BTI’s Client Service All-Star Team. Mr. Wincek was also recognized by Legal Media Group in its Guides to the World's Leading Labor and Employment Lawyers.
About Kilpatrick Townsend & Stockton LLP
Kilpatrick Townsend is a multi-practice international firm with more than 600 attorneys and professionals, with 20 offices in the United States and abroad. The firm provides clients with unsurpassed legal representation in the following areas:
• Employee Benefits, Labor & Employment: Counseling, transactions, administrative advocacy, and litigation
• Business and Finance: Including securities, mergers and acquisitions, tax, and commercial transactions
• Intellectual Property: The full complement of IP procurement, counseling, and litigation
• Construction and Infrastructure: All aspects of transactions and litigation
• Litigation: Including insurance recovery, environmental, and complex business litigation
Kilpatrick Townsend serves clients around the world from the firm’s offices in Alaska, California, Colorado, District of Columbia, Georgia, New York, North Carolina, Texas, Washington, Shanghai, Stockholm, and Tokyo. The firm is committed to learning and furthering the business and legal goals of its clients.
Event Synopsis:
In recent months, we have seen a new wave of ERISA class action litigation challenging the reasonableness of actuarial factors used in pension plans. A group of class action complaints have been filed against traditional pension designs. These complaints allege the plans are using out-of-date mortality tables and interest assumptions to calculate optional forms of annuity and to reduce annuities for early commencement. As a result, the suits claim that annuities paid to participants under these plans are subject to excessive actuarial reductions, improperly denying participants their full vested benefits. The plaintiffs seek reformation of the plans’ terms, which is allegedly necessary to bring them into compliance with ERISA, recovery of past underpayments and resulting future increases in benefits.
In this 90-minute LIVE Webcast, a panel of distinguished professionals and thought leaders assembled by The Knowledge Group will discuss the implications of the cases that have been filed, the prospects for additional similar suits, prior case law regarding the reasonableness of actuarial factors, the magnitude of risk that the suits present, and the steps that plan sponsors should be taking now.
Key topics include:
• Plans that are affected
• The actuarial factors and actuarial adjustments that have given rise to the complaints
• The legal basis for evaluating the reasonableness of actuarial factors
• How much deviation from current, “standard” actuarial factors is permissible?
• Is it time to update your actuarial factors?
• Is it sufficient to update factors prospectively?
• The impact of Section 411(d)(6)’s anti-cutback protection
• Statutes of limitation and plan-specified limitation periods
• The applicability of the continuing violation theory
• Other key defenses
About The Knowledge Group/The Knowledge Congress Live Webcast Series
The Knowledge Group 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 for an event, please visit: http://theknowledgegroup.org/
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