Fiduciary Responsibility and Plan Investment Issues

Schiff Hardin is skilled in counseling plan sponsors seeking to appoint investment managers or select pooled funds and in advising the investment managers themselves. Problems addressed include the Employee Retirement Income Security Act's (ERISA) prohibited transaction rules, the rules concerning default investments under the Pension Protection Act of 2006 and compliance with ERISA's prudence and diversification requirements.

We advise insurance companies and investment firms on the use of venture capital operating companies (VCOCs) and real estate operating companies (REOCs) to deal with "plan asset" issues, and on the sources of funds that may be accessed in financings without causing prohibited transactions.

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Schiff Hardin LLP is a general practice law firm representing clients across the United States and around the world. We have nearly 400 attorneys in offices located in Atlanta, Boston, Chicago, Lake Forest, New York, San Francisco and Washington. Our attorneys are strong advocates and trusted advisers — roles that contribute to many lasting client relationships.