With plaintiffs targeting employee benefit plans at an accelerating speed, Paul, Weiss has built an exceptional practice defending plan sponsors, fiduciaries and service providers in the technically demanding, high-stakes arena of ERISA, pension- and employee benefits-related class actions and related litigation. We are also among the preeminent firms nationally in handling the securities litigation that frequently accompanies ERISA disputes.
New Pension Law Relaxes ERISA’s 25% Test for Investment Funds, Makes Other Changes
August 4, 2006 Full PDF
The Pension Protection Act (H.R. 4) was passed by the Senate late last night in the same form as was approved by the House last week. The new law significantly relaxes the circumstances under which pooled investment entities (primarily hedge, venture capital and private equity funds and certain types of structured finance vehicles) are subject to the complex fiduciary and prohibited transaction rules of ERISA.