Miguel Eaton, Partner, Jones Day 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 Miguel Eaton, Partner, Jones Day 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 - The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Miguel Eaton, Partner, Jones Day 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).
For further details, please visit:
https://www.theknowledgegroup.org/webcasts/latest-class-action-wave/
About Miguel Eaton
Clients look to Miguel Eaton to guide them through employee benefits issues that present significant business challenges. Miguel began his career litigating ERISA and other issues and over the years expanded his practice to include counseling clients on benefits issues in M&A, cyber, and litigating pension and retiree health issues in bankruptcy.
A significant portion of Miguel's practice involves multiemployer plans including counseling contributing employers, litigating withdrawal liability and trustee deadlocks, and advising on M&A matters. He also advises benefit committees regarding participants' claims for pension, welfare, and disability benefits. Miguel's litigation experience includes defending breach of fiduciary duty class actions and retiree health cutback cases and companies being investigated by the Departments of Labor and/or Justice.
For several years, Miguel has served as the employer co-chair for various subcommittees of the ABA Employee Benefits Committee and is a frequent speaker on ERISA, including being on faculty for the ABA’s Joint Committee on Employee Benefits and serving as a Senior Lecturing Fellow at Duke Law School where he teaches a seminar on ERISA. He is a two-sport college athlete. He played in the 1994 NCAA basketball tournament and is the 1996 National Collegiate Boxing Association National Champion (heavyweight).
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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