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Pension Plan Investments 2013: Current Perspectives


Speaker(s): Alan S. Wilmit, Alicia C. McCarthy, Howard Shapiro, Ivan Strasfeld, James S. Frazier, John W. Valentine, Karen L. Handorf, Laura E. Bader, Liza LeAndre, Mary E. Alcock, Melanie Nussdorf, Nicholas J. Waddles, Patricia Anne Kuhn, Peter E. Haller, Shannon Barrett, Suzzanne Yao, Timothy D. Hauser
Recorded on: Apr. 2, 2013
PLI Program #: 42024

Howard Shapiro is a Partner in the Employee Benefits, Executive Compensation & ERISA Litigation Practice Center, resident in the New Orleans office. He is a nationally known ERISA litigator, listed by The National Law Journal as one of the Top 40 Benefits Lawyers in the country in the category of litigators representing management. He is ranked in the first tier of ERISA litigators by Chambers USA, which commends him as “a top class national player” with an “excellent practice with both breadth and depth.” He has been listed in The Best Lawyers in America since 1997, where he is one of few lawyers listed in two separate categories: ERISA and Labor/Employment.

Howard's national ERISA litigation practice has focused on defending matters raising sophisticated preemption issues; fiduciary issues; fiduciary misrepresentation claims; ESOP litigation issues; 401(k) plan issues; blackout period cases; plan asset diversification issues; prohibited transaction allegations; directed trustee issues; cash balance cases; independent contractor litigation; “serious consideration” cases; retiree rights litigation; severance pay cases; executive compensation/“top hat” litigation; Section 510 cases; benefit claims cases; ERISA class actions; and class-wide challenges to health plans that do not offer contraception benefits. He has appeared in federal courts from coast to coast, maintaining an active national ERISA litigation practice.

In addition, Howard was a co-author of Employee Benefits Law, a treatise originally published by BNA in 1991 and updated with annual supplements. He also served as a senior editor/author of Employee Benefits Law, Second Edition, published in 2000. He has written law review articles, outlines, and other publications and speaks frequently at national seminars and other programs on ERISA litigation topics.


John Valentine

John started Valentine Law in 2009 to serve the needs of Institutional Investors dealing with Asset Servicing. He is uniquely qualified in this eclectic field of law-he has over 25 years of experience with custody banks, investment managers and plan sponsors dealing with the numerous, inter-twined areas of law, regulations and, importantly-industry practices which impact the purchase, holding, administration and sale of assets by ERISA plans, Mutual Funds, Endowments and Foundations. He is unique, in that he understands the investment and benefits businesses from every perspective: plan/fund sponsor, service provider, and fiduciary.

Before opening his private practice, John headed The Bank of New York Mellon's Everett, Massachusetts office of the Legal Department of The Bank of New York Mellon. For over 11 years, he and his staff supported the bank's institutional trust and custody services, including the bank's global custody network, and the mutual fund back-office administration and services group. Before that, as Senior Counsel for Chase Manhattan Bank, starting in 1986, he helped shape and develop the bank's emerging Global Custody business to serve ERISA and Mutual Funds clients. While with Chase, he advised the Trust and Custody business as well as its institutional investment arm, Chase Investors Management Company.

Because of his in-house experience, he has direct, first-hand knowledge of domestic and foreign back office operations in all areas, including: securities processing; depository and clearing operations; corporate actions; proxy voting; class action settlements; tax reclaims; handling of restricted securities; derivatives processing; ERISA prohibited transactions and fiduciary duties.

Before his bank and investment manager experience, he gained plan sponsor and employer perspectives as Labor Relations and Benefits Counsel for Lever Brothers Company, handling plan design, funding, fiduciary and administration issues-as well as labor negotiations, arbitrations, NLRB and human rights matters.

His legal career began with AT & T, as an Assistant Regional Counsel, handling general corporate matters, but specializing in human rights defense work, where he successfully defended close to 100 human rights and NLRB complaints.

He has always maintained a "hands-on" philosophy in understanding the businesses he has represented. At AT&T, he went down into manholes, underground switching centers and to the top of microwave towers. At Lever, he became familiar with the production floor and its commodity trading for the oils used in its products; and, he worked with treasury operations on plan funding issues. At Chase, he worked with operations officers in both domestic and global custody. He trained trust officers in ERISA fiduciary duties and prohibited transactions identification and avoidance. In order to better understand CIMC, along with several of its top traders, he took the licensing course required to become a Commodity Futures Trading Advisor.

John was one of the earliest members of the ERISA Attorney Group, an informal network of in-house bank ERISA counsel formed shortly after ERISA became law. The group identified common industry problems and has been instrumental in developing best practices in institutional trust and custody of ERISA assets. He actively participated in the group for over 20 years, and as a result, he developed and maintained close contacts in the industry.

In 1995-6, when the SEC began revising its rules for foreign custody of Mutual Fund assets, using contacts from the ERISA Attorney's Group, he brought together in-house bank counsel from the 5 main US Global Custody banks and recommended that the coalition engage the Baker and McKenzie law firm to coordinate industry comments on proposed changes to Rule 17f-5. The result was the creation of the Association of Global Custodians. As a participant in The AGC, John actively represented Chase Manhattan Bank, Mellon Bank, and The Bank of New York Mellon.

He is the author of four articles written for the Practicing Law Institute:

  • "The Perfect Storm: The Meltdown of 2008-9; Learning Points and Issues for Plan Fiduciaries;"
  • "The Roles of Directed Trustees, Investment Managers and Plan Sponsors in Swaps, and Their Effect on Risk and Valuation;"
  • "Foreign Assets as Viewed by an ERISA Fiduciary" and
  • "Selected Basic Global Custody Issues."

He has been featured as a speaker in PLI programs and at numerous industry conferences in the US and Canada. He is a graduate of Union College (B.A., cum laude in Economics '71) and Syracuse University College of Law (J.D., cum laude '74). He is admitted to the practice of law in Massachusetts, New York, Connecticut and the US District Court for the Southern District of New York.


Laura Bader is a partner in the Employee Benefits Group in the Chicago office of Kirkland & Ellis LLP. Laura focuses her practice on institutional investment and ERISA fiduciary matters, including with respect to the "plan asset" rules and VCOC and REOC structuring. Laura's experience includes structuring and negotiating private equity, real estate and other private funds for fund sponsors as well as for institutional investors. In addition, Laura has counseled ERISA plans, investment managers and a variety of pooled investment vehicles on ERISA compliance matters.


Nicholas Waddles is a partner in the Employee Benefits & Executive Compensation Department in the Los Angeles office of Seyfarth Shaw LLP. His practice focuses on assisting retirement plan sponsors and pension plan service providers in all aspects of employee benefit issues, including representing plan sponsors in controversies before the IRS and the Department of Labor, negotiating the resolution of plan qualification issues through IRS and DOL remedial programs, advising plan fiduciaries of their responsibilities under ERISA, and structuring qualified plan arrangements.

Mr. Waddles’ practice also focuses on advising trustees, service providers and administrators of TaftHartley multiemployer trust funds on all issues including pension plan design and trust fund administration, investment of plan assets, the qualification of state domestic relations orders, drafting plan documents and general compliance with ERISA, the Internal Revenue Code, federal labor law and other laws affecting pension funds. In 2006 Mr. Waddles was named one of Southern California’s “Rising Stars” by the Law & Politics “Super Lawyers” publication.

Education
J.D., Washington University in St. Louis (1996)
   National Employment Law Moot Court Team, Mock Trial Board
B.S., Truman State University (1992)

Admissions
Michigan
California

Courts
U.S. District Court for the Central District of California
U.S. District Court for the Eastern and Western Districts of Michigan

Affiliations
American Bar Association (Labor & Employment Section; Taxation Section; Joint Committee on Employee Benefits)
American Society of Pension Professionals and Actuaries (ASPPA)
California Bar Association
International Foundation of Employee Benefit Plans


Peter E. Haller is a partner in the Executive Compensation and Employee Benefits Department.

Peter advises clients on their employee benefit plans and programs, with an emphasis on the fiduciary responsibility and prohibited transaction rules  under ERISA.  He has significant experience with ERISA issues raised by hedge funds, private equity funds and financial institutions and their broker- dealer, asset management and private bank affiliates.  Peter represents clients with their prohibited transaction exemption requests before the Department of Labor’s Employee Benefit Security Administration. He has also assisted debtors in bankruptcy on all aspects of employee benefits matters that arise in connection with bankruptcy cases.

Peter chairs the New York City Bar Association subcommittee on ERISA Fiduciary Duties, Private Equity and Plan Investments.  Peter also teaches a class with Barry Barbash at Georgetown University Law Center and Howard University Law School on “Regulation of Private Funds with Employee Plan Investors: ERISA”

Prior Experience

Prior to returning to Willkie in 2015, Peter was most recently counsel for Credit Suisse in New York, where he served as global head of the ERISA and Executive Compensation practices, and head of the U.S. Bank Regulatory practice.  As global head of the ERISA practice, he advised the firm with the development and offering of complex financial products.  Peter is also a Certified Public Accountant.

Selected Publications and Lectures

 Speaking Engagements

  • PLI, Pension Plan Investments 2016, “Department of Labor EBSA Hot Topics” – New York City, March 2016
  • PLI, Investment Management Institute 2016, “The Definition of Fiduciary: DOL and SEC Perspectives” – New York City, March 2016
  • PLI, ERISA Plans in the Financial Markets 2016, “Financial Institution Marketplace Issues” – New York City, February 2016
  • Financial Research Associates, “The Fiduciary Update: Practical Insights” – New York City, October 2015
  • SIFMA Society, National Conference, “Developments in Savings and Retirement Plans” – Phoenix AZ, March 2015
  • Regulatory Compliance Association, “ERISA Regulation” – New York City, April 2015
  • Regulatory Compliance Association, “Emerging Issues for Fund Managers and Investment Advisors” – New York City, April 2014
  • SIFMA Society, National Conference, “Dodd Frank: Developments and Prudential Issues” – Orlando, Florida, March 2014
  • Global Equity Organization, Annual Conference, “Hot Topics – Balancing Risk Taking Incentives and Clawbacks” – Munich, Germany, June 2013
  • Regulatory Compliance Association, ERISA – “Emerging Issues for Fund Managers and Investment Advisors” – New York City, April 2013
  • PLI, Pension Plan Investments 2013, “Current Fiduciary Issues” – New York City, April 2013
  • SIFMA Society, National Conference, “Dodd Frank: Developments and Prudential Issues” – Phoenix AZ, March 2013
  • American Bar Association, International Section, “Executive Compensation in Global High Definition” – New York City, April 2012
  • PLI, Pension Plan Investments 2012 “AFTRA/JPMorganChase: Conflicts Arising from Investments in Different Parts of the Capital Structure of an Entity and the Use and Utility of Information Barriers” – New York City, April 2012
  • SIFMA Society, National Conference, “Developments in Savings and Retirement Plans” – Miami, FL, March 2012
  • Global Equity Organization, Annual Conference, “Managing Culture, Compliance and Communication Between EU/EFTA and the US” – Amsterdam, Netherlands, June 2011
  • City & Financial, “Remuneration and the use of Contingent Convertibles (CoCos)” – London, UK, May 2011

Publications

  • “The Basics of Garden Leave – and why careful tilling is needed,” BNA Pension & Benefits Daily August 24, 2011

My Practices

  • Executive Compensation and Employee Benefits
  • Asset Management

Education

  • Boston College Law School, J.D., 1993
  • Bentley College, B.S., 1988

Bar Admissions

  • New York
  • Massachusetts
  • Maine


Alan is a Managing Director and Associate General Counsel at Goldman Sachs, where he is the senior attorney responsible for executive compensation, employee benefits and ERISA matters.  In addition to working on the firm’s own employee benefits, he helps the firm structure investments for ERISA plans and advises GSAM in connection with the ERISA aspects of its responsibilities.  Alan is a frequent speaker on matters relating to investments by ERISA plans as well as executive compensation matters.  He is a graduate of Tufts University and Cornell Law School.


Currently, Senior Advisor to Fiduciary Counselors Inc.

Former Director, Office of Exemption Determinations, Employee Benefits Security Administration

Mr. Strasfeld assumed the position of Director of the Office of Exemption Determinations in June 1989. He retired from that position on February 3, 2012.

From 1984 to 1989, he held several positions including Chief of ORI’s Division of  Fiduciary Interpretations and Regulations and Chief of ORI’s Division of Regulatory Coordination.  Mr. Strasfeld was an Employee Benefit Plan Specialist in the Division of Fiduciary Interpretations and Regulations from 1979 to 1984, and a Tax Law Specialist with the Internal Revenue Service from 1976 to 1979.

Mr. Strasfeld received a B.S. degree in 1972 from the State University of New York at Buffalo and a J.D. in 1975 from UCLA School of Law, Los Angeles, CA.


 

Areas of Practice

  • ERISA, Labor & Employment
  • ERISA/
    Employee Benefits/
    Litigation/
    Executive Compensation
  • Employee Benefits/
    ERISA/
    Executive Compensation
  • Tax
  • Congressional Oversight & Investigations

     

    Education

  • New York University School of Law, J.D., 1973
  • University of Pennsylvania, B.A., 1970

     

    Bar & Court Admissions

  • District of Columbia

 

Melanie Nussdorf is a partner in the Washington office of Steptoe, where she is a member of the Tax and Employee Benefits groups.

Her practice spans the entire range of employee benefits, from the tax-based rules for qualified pension plans, to fiduciary issues, welfare benefits, and plan termination. Ms. Nussdorf's particular focus over the last several years has been fiduciary issues, including prohibited transaction exemption questions under ERISA, especially in connection with financial products and services. Ms. Nussdorf represents a number of financial institutions including major banks, investment advisers,brokerage firms, and insurance companies. In addition, she has particular experience in all aspects of the plan termination process, including issues of employer liability for poorly funded plans terminating in or outside of a bankruptcy proceeding. She has done substantial work on ERISA issues relating to hedge funds and private equity vehicles. She also has substantial experience with the exemption and advisory opinion process under ERISA and has worked extensively on legislative issues related to ERISA.

Ms. Nussdorf was counsel for age and sex discrimination at the Department of Labor prior to serving as Executive Assistant to the Solicitor of Labor from 1977-81. During this period, she had significant oversight responsibility for the department's legal work under ERISA. From 1981-84, she served as Special Counsel at the Pension Benefit Guaranty Corporation.

Noteworthy

  • Listed in Best Lawyers in America 1995-2014 for Employee Benefits(ERISA)Law and ERISA Litigation
  • Received Star Individual Rating for DC: Employee Benefits & Executive Compensation in Chambers USA: America’s Leading Business Lawyers 2011-2013
  • Ranked #1 for Nationwide: Employee Benefits & Executive CompensationinChambers USA: America’s Leading Business Lawyers 2011-2013
  • Ranked #1 for DC: Employee Benefits & Executive Compensation and Nationwide: Employee Benefits & Executive Compensation inChambers USA: America’s Leading Business Lawyers 2004-2013
  • Recommended as a Leading Lawyer for Labor & Employment: Employee Benefits & Executive Compensation by Legal 500 US 2009, 2013
  • Recommended for Labor & Employment: Employee Benefits& Executive Compensation by Legal 500 US 2012
  • Recommended for Tax: Employee Benefits & Executive Compensationby Legal 500 US 2011
  • Listedin Washington, DCSuper Lawyers 2007-2013
  • Listed in Lawdragon 3000 Leading Lawyers in America 2011
  • Listed as International Law Office Client Choice Award Guide 2010 winner for USEmployment and Labor 2010

 

Select Seminars & Events

“Other Regulatory Regimes Affecting the Investment Management Industry,” PLI’s Investment Management Institute 2013

"Pension Plan Investment: Current Perspectives," Practising Law Institute's Conference, April 5, 2011

"ERISA Fiduciary Basics," Practising Law Institute's Conference, February 23, 2011

"Investment Management Institute," Practising Law Institute's Conference, February 10, 2011

"CFTC’s Proposed Business Conduct Standards for Swap Dealers: Costs and Consequences to Swap Dealers and Plans," Practising Law Institute's Teleconference, January 25, 2011

"DOL’s Proposed Significant Expansion of the Fiduciary Definition," Practising Law Institute's Teleconference, November 19, 2010

Selected Publications

Expanded Roth Conversion Opportunity for Retirement Plan Participants
January 11, 2013

ERISA Advisory - $36.9 Million Awarded in ERISA Class Action Challenging Investment Selection and Compensation Paid to 401(k) Plan Recordkeeper
May 3, 2012

ERISA Advisory - Department of Labor Releases 408(b)(2) Fee Disclosure Regulations
March 9, 2012

ERISA Advisory - CFTC Announces New Swap Rules
February 2, 2012

ERISA Advisory - Labor Department Issues Final Regulations Addressing Provision of Investment Advice to Participants and Beneficiaries of Self-Directed Individual Account Plans and IRAs
October 31, 2011

ERISA Advisory - Proposed Regulation Redefining Fiduciary
November 5, 2010

ERISA Advisory - ERISA Advisory Council Makes Stable Value Fund Recommendations to Labor Department
November 17, 2009

Melanie Nussdorf Quoted in Pensions & Investments about Revamped Rules for Offering Investment Advice
May 4, 2009

 


Alicia C. McCarthy is Counsel at Wachtell, Lipton, Rosen and Katz in the Executive Compensation and Benefits Department.  She advises clients with respect to executive compensation and employee benefit matters involving mergers and acquisitions, spin-offs, joint ventures, financings, litigation as well as plan compliance. She has extensive experience in ERISA fiduciary matters involving the formation and operation of funds.  Her recent representations include advising on exemptions from the Department of Labor and de-risking transactions.

Ms. McCarthy is a frequent speaker on ERISA topics for the Practicing Law Institute.  She recently co-authored the articles “Counting to 80,” Private Equity Manager (August 2013) and “New Ways to Manage Old Pension Liabilities,” Law 360 (June 17, 2013).  Ms. McCarthy is a member of the Committee of Employee Benefits and Executive Compensation of the Association of the Bar of the City of New York.  She is the recipient of the Pro Bono Publico Award (2010, 2011 and 2014) for her services to The Legal Aid Society.  She is also recognized in Best Lawyers of America (2012-2016) in Employee Benefits (ERISA) law and New York Super Lawyers (2013-2015).

Ms. McCarthy received her B.A. in 1981 from Georgetown University and her J.D. cum laude in 1984 from Brooklyn Law School, where she was a member of the Journal of International Law.


James Frazier's practice is concentrated in the area of ERISA and employee benefits. A large part of his practice is devoted to advising clients with respect to the application of ERISA's fiduciary standards and prohibited transaction provisions to their activities in transactional and regulatory matters. He regularly advises financial services firms with respect to the structuring of investment vehicles and other investment products (including complex structured products and derivatives) offered to employee benefit plans and entities deemed to hold the assets of such plans and routinely advises financial services firms in connection with the provision of services (e.g., investment management and brokerage services) to such plans or entities. James also advises clients regarding issues that arise under ERISA and the Internal Revenue Code in the context of corporate transactions. He also routinely represents clients before the U.S. Department of Labor's Employee Benefits Security Administration.

James has been ranked by Chambers USA as a leading lawyer and has also been selected to The Best Lawyers in America.

Prior to entering private practice, James was a Pension Law Specialist with the U.S. Department of Labor, where he spent extensive time working with the fiduciary provisions found in, and prohibited transaction exemptions issued under, Title I of ERISA.

James received his J.D., cum laude, from the University of Arkansas School of Law, and an LL.M. in Taxation and Certificate in Employee Benefits Law, as well as an LL.M. in Labor Law, with distinction, from the Georgetown University Law Center. He earned his undergraduate degree from the University of North Carolina. He is admitted to practice in New York and North Carolina.


Karen Handorf, a Partner at the Firm, joined Cohen Milstein in 2007.  Ms. Handorf is head of the Employee Benefits (ERISA) practice group.

Ms. Handorf is currently involved in litigation and appeals involving a broad range of employee benefits issues including church plans, ESOPs, employer stock, COBRA, mismanagement of plan investments and benefit terminations.  She represented a class of 30,000 Goodyear union retirees in litigation in which Cohen Milstein obtained approval of a class action settlement between the retirees, Goodyear and the United Steel Workers, resulting in the establishment of a $1 billion trust through which retiree healthcare benefits will be provided in the future. Redington v. Goodyear (N.D. Ohio).  She has co-authored amicus briefs filed by the firm on behalf of the Pension Rights Center in the U.S. Supreme Court (LaRue v. DeWolff, Boberg & Associates) and in the Third Circuit (In re Schering-Plough Corporation ERISA Litigation).  She also played a primary role in drafting the appellate brief in In re Citigroup ERISA Litigation (2d Cir.) (challenging the dismissal of a complaint alleging the imprudent purchase of employer stock) and in Boos v. AT&T (5th Cir.) (involving the issue of whether a program providing cash payments to certain “pension eligible” retirees to reimburse them for their personal telephone expenses during retirement is a pension plan). 

Prior to joining the firm, Ms. Handorf was an attorney for the U.S. Department of Labor (the “DOL”) where she litigated ERISA cases in federal appellate and district courts for twenty five years.  She began her ERISA career in 1982 as a trial attorney in the Plan Benefits Security Division (PBSD) where she litigated actions brought by the Secretary of Labor for violations of the fiduciary standards of ERISA and handled a number of appellate matters.

In 1989, she was appointed Counsel for Decentralized and Special Litigation responsible for supervising the DOL’s ERISA appellate litigation, district court litigation brought by regional offices of the Solicitor of Labor and administrative litigation involving the civil penalty provisions of ERISA.  In that position at the DOL, Ms. Handorf was responsible for establishing and supervising PBSD’s amicus brief writing program which addressed a wide range of novel and difficult ERISA issues in both state and federal court.  While at the DOL, she also played a major role in formulating the Government’s position on ERISA issues expressed in amicus briefs filed by the Solicitor General in the United States Supreme Court.

In 2001, she was appointed Deputy Associate Solicitor of PBSD.  As the Deputy Associate Solicitor, she was responsible for overseeing litigation brought by the Secretary of Labor and legal advice provided to the Employee Benefit Security Administration, which administers Title I of ERISA.  In 2005, she returned to her position as supervisor of the ERISA appellate and amicus brief writing program, serving as Counsel for Appellate and Special Litigation.

Ms. Handorf is a recipient of the Department of Labor Distinguished Career Service Award, and received Exceptional Achievement Awards for her work on ERISA 401(k) plan remedies, the amicus brief in the Enron litigation, retiree health care, the amicus program in general, the appellate brief in the Department’s Tower litigation, termination annuities litigation and multiple employer welfare arrangement (MEWAs) litigation.

Ms. Handorf has been recognized for her expertise by her colleagues in the ERISA bar, who made her a Fellow of the American College of Employee Benefits Counsel.  She is a frequent speaker on ERISA issues for the ABA, various bar associations and private seminars, and serves as plaintiffs' co-chair of preemption subcommittee of the Employees Benefits Committee of the ABA's Labor Section. 

Ms. Handorf has been recognized from 2013-2015 as a Washington, D.C. “Super Lawyer”, and has been named to the Best Lawyers in America for 2016.

Ms. Handorf received her law degree from the University of Wisconsin Law School in 1975. Prior to law school, she attended the University of Wisconsin-River Falls where she received a B.S. in Speech and History.

Ms. Handorf is a member of the bars of Wisconsin and the District of Columbia, and is admitted to practice before the United States Court of Appeals for the Second Circuit, Third Circuit, Fifth Circuit, Seventh Circuit, Ninth Circuit and Tenth Circuit.


Liza LeAndre is the Vice President, Compensation & Benefits Tax Counsel at Johnson & Johnson where she advises on tax and legal issues relating to Johnson & Johnson’s worldwide compensation and employee benefit programs.  Ms. LeAndre advises on cross-border compensation and benefits arrangements, including globally-aligned compensation, bonus, executive and equity plan offerings.  She also advises on compensation and benefits issues relating to acquisitions, joint ventures, divestitures and restructurings.

Prior to Johnson & Johnson, Ms. LeAndre was Chief Benefits Counsel at the Colgate-Palmolive Company where she advised on the company’s global retirement, welfare benefit and compensation programs as well as its executive and stock-based incentive compensation benefits.  She also advised on plan asset management and plan governance.  Prior to Colgate, Ms. LeAndre served as Corporate Counsel for Lucent Technologies where she provided legal advice in compensation and benefits areas including retirement plans, in-house asset management, executive compensation, mergers, acquisitions and divestitures, stock-based compensation, welfare plans and collective bargaining.

Ms. LeAndre was also a Legal Consultant at Hewitt Associates and advised its actuarial, executive compensation, pension, defined contribution, total benefits administration, merger and acquisition and executive compensation practice groups.   She began her career at Cleary, Gottlieb, Steen and Hamilton where she advised in areas including plan asset investment, executive compensation and merger and acquisitions.

Ms. LeAndre received her A.B. from Princeton University and her J.D. from the Harvard Law School.


Mary E. Alcock is counsel based in the New York office.

Ms. Alcock’s practice focuses on employee benefits and executive compensation matters, including design and regulatory compliance. She regularly advises clients on corporate governance issues as well as on disclosure issues relating to compensation matters. Ms. Alcock also counsels financial institutions on the issues arising under pension and tax laws with respect to their many and varied interactions with pension funds.

Ms. Alcock is recognized as a leading employee benefits lawyer by Chambers USA, The Best Lawyers in America and The Legal 500 U.S. 

Ms. Alcock joined the firm in 1993 and became counsel in 2002.  She received a J.D. degree in 1993 from Yale Law School and an undergraduate degree, summa cum laude, in 1988 from Yale University.

Ms. Alcock is a member of the New York State Bar.


Patricia Anne Kuhn, Managing Director, Legal & Compliance. Ms. Kuhn is responsible for legal and compliance matters under the Employee Retirement Income Security Act of 1974, as amended ("ERISA").

Prior to joining BlackRock in 2010, Ms. Kuhn was a counsel at Shearman & Sterling, LLP, where her primary responsibilities were to provide advice with respect to Title I (fiduciary responsibilities) and Title IV (pension funding) of ERISA. She also assisted with a variety of tax and executive compensation matters.

Ms. Kuhn received a B.F.A. from SUNY Purchase in 1983 and a J.D. from Boston University, cum laude, in 1989.


Shannon Barrett is a partner in O’Melveny’s Washington, DC office. Shannon concentrates his practice on ERISA-related litigation and on providing advice relating to Title I of ERISA. He has been involved in litigating a broad range of ERISA matters at both the trial and appellate levels, with a particular focus on fiduciary issues. In addition to his litigation practice, Shannon has assisted clients in responding to regulatory investigations and has counseled clients, including financial institutions and plan sponsors, on ERISA issues such as fiduciary structure, fee disclosure, and compliance with ERISA’s prohibited transaction provisions. Shannon has also advised independent fiduciaries in their representation of employee benefit plans’ rights in connection with ERISA and securities settlements.


Illustrative Professional Experience

  • Defended affiliates of Fidelity Investments in a series of cases challenging 401(k) plan fees, including Columbia Air Services, Inc. v. Fidelity Management Trust Co. and Hecker v. Deere & Co., which were dismissed on all claims.
  • Representing the fiduciaries of financial institution in lawsuit alleging breaches of fiduciary duty and prohibited transactions in connection with their in-house plans’ use of affiliated investment vehicles and services.
  • Defended or defending the fiduciaries of defined contribution plans sponsored by several major corporations against claims involving employer stock held by those plans.
  • Represented U.S. Trust through trial and appeal in its successful defense of breach of fiduciary duty claims stemming from the purchase of privately traded employer stock by an Employee Stock Ownership Plan in Keach v. U.S. Trust.


Education

Harvard University, J.D., 1997: cum laude

Duke University, B.A., 1994: magna cum laude; Phi Beta Kappa


Professional Activities

Law Clerk, Honorable John R. Gibson, Eighth Circuit Court of Appeals

Admitted, District of Columbia; Illinois

Admitted to Practice, U.S. District Court for the Northern and Central Districts of Illinois; District of Columbia; District of Maryland; U.S. Courts of Appeals for the Fourth, Fifth, Seventh, Eighth and Eleventh Circuits  

Honors, recognized by Chambers USA as leading lawyer for ERISA Litigation; recognized by Legal 500 (2013-2015)


Suzzanne joined Goldman Sachs in 2007 and focuses primarily on matters relating to ERISA and benefits.  Prior to joining Goldman Sachs, Suzzanne spent four years at Fried, Frank, Harris, Shriver & Jacobson LLP working in the executive compensation and employee benefits department.  Suzzanne received a B.A., summa cum laude, from Columbia University in 1999 and a J.D., cum laude, from Harvard Law School in 2002.  She is admitted to practice in New York.

Suzzanne was named Managing Director in January 2014.


Timothy D. Hauser is the Deputy Assistant Secretary for Program Operations of the Employee Benefits Security Administration and as such is the chief operating officer of the Agency. His responsibilities include overseeing EBSA's regulatory, enforcement and reporting activities.

Mr. Hauser joined the Department of Labor in 1991 as a trial attorney for the Plan Benefits Security Division (PBSD), where he represented the Department in federal district court and appellate litigation. From November 2000 until November 2013, Mr. Hauser was the Associate Solicitor of the Division. As the head of PBSD, he was responsible for all of the Department's legal work under ERISA.

Before joining the Department of Labor, Mr. Hauser worked as a trial attorney for six years at Legal Aid of Western Missouri. As a Legal Aid attorney, he represented indigent clients in civil litigation in ten rural counties in Missouri.

Mr. Hauser graduated from Harvard Law School in 1985. He is also a graduate of the University of Illinois.