Stradley Ronon Attorneys George Michael Gerstein and John Hamilton joined Grant Thornton, a leading tax and advisory firm, for a joint webcast, “Are 401(k) funds an opportunity private equity funds should pursue?” on Sept. 29. The panel discussed the pros and cons of taking in 401(k) plan dollars, the potential competitive advantage of including private equity for plan sponsors, and Department of Labor (DOL) guidance and structural considerations.
Start Time: Sep 29, 2020 1:00 PM ET
End Time: Sep 29, 2020 2:00 PM ET
Location Details: Online
Event Type: Webcast
Recommended CPE Credits: CPE will not be offered on this program
Audience: Asset management/private equity executives across all functions.
Contact: Ethan Castillo
Phone: +1 216 858 3652
Program Content: The U.S. Department of Labor (DOL) issued important new guidance for 401k plan investment committees on June 3 that want to include private equity as a component of a target date fund or other diversified investment fund offered within a 401k plan. For decades, institutional investors including defined benefit pension plans, endowments and foundations have long included investments in private equity (PE) as part of a diversified portfolio. Fiduciaries of defined contribution (e.g., 401k) retirement plans, however, have been reluctant to add the asset class to their plans for fear of running afoul of legal and regulatory hurdles. The Information Letter from the DOL is important because it gives fiduciaries more legal certainty if they want to consider additional asset classes as part of a diversified 401k investment option.
- Pros and cons of taking in 401k plan dollars
- Potential competitive advantage of including PE for plan sponsors
- DOL guidance and structural considerations
- Michael Patanella – Audit Partner, National Asset Management Sector Leader, Grant Thornton LLP
- Bob Dunne – Tax Partner, Grant Thornton, LLP
- Judd Wright – Audit Partner, Grant Thornton LLP
- George Michael Gerstein, Co-Chair, Fiduciary Governance, Stradley Ronon Stevens & Young
- John P. Hamilton, Counsel, Stradley Ronon Stevens & Young