Settling the Standard for Prudence? Fall Brings New Guidance for ESOP Trustees

By McDermott Will & Emery, Allison Wilkerson, J. Christian Nemeth and McDermott Will & Emery on December 5, 2017

Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Retirement Plans

Through a series of recent settlements, the US Department of Labor has outlined the process steps fiduciaries should follow in connection with a transaction involving a purchase from, or sale to, an employee stock ownership plan.

Tags: Acosta v. BAT Masonry, Acosta v. First Bankers Tr. Servs. Inc., Appraisal Expert, Employee Retirement Income Security Act of 1974, employee stock ownership plan, ERISA, ESOP, ESOP fiduciary, Fiduciary Review Process, Perez v. GreatBanc Trust Co., US Department of Labor

McDermott Will & Emery

Allison Wilkerson
Allison Wilkerson focuses her practice on employee benefits matters. She has extensive experience handling issues pertaining to the Employee Retirement Income Security Act of 1974 (ERISA) and employee stock ownership plans (ESOPs). Read Allison Wilkerson's full bio.

J. Christian Nemeth
J. Christian (Chris) Nemeth provides legal counsel on complex commercial litigation and government investigations, including ERISA matters, financial and banking cases, business torts and breach of contract actions. Chris is the Co-Chair of the Firm’s ERISA Litigation group and works closely with the Firm’s Employee Benefits department on all types of Litigation matters, Department of Labor investigations and similar issues. Read Chris Nemeth's full bio.

McDermott Will & Emery

Settling the Standard for Prudence? Fall Brings New Guidance for ESOP Trustees

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