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Panel Proposals

Effective Governance

The ESOP Trustee, the Board of Directors, and Fiduciaries’ Responsibilities for Other Fiduciaries

Tuesday, April 15, 2025
9:00 AM – 10:00 AM MST
Location: 259
CE: 1
CE Type: CLE, CPE, SHRM
Education Level: For All levels
The ESOP's control of the company post-formation transaction, the ESOP trustee's monitoring of the board of directors, and the board's monitoring of the trustee have drawn the focus of the Department of Labor and the private plaintiff's bar. We will frame the topics of control and the duty to monitor with relevant case law and process agreements, and will offer practical guidance on the interaction between the board and the trustee. We will also discuss the selection of nonfiduciary service providers, such as valuation advisors and recordkeepers, and relevant cybersecurity considerations in light of the Employee Benefits Security Administration's 2021 guidance.
NCEO Publication: The ESOP Company Board Handbook
NCEO Toolkit: Board Excellence and Candidate Directory

Learning Objectives:

  1. Understand the duty to monitor.
  2. Describe the interaction between the ESOP trustee and the board of directors.
  3. Learn how plan sponsors and service providers are implementing the Employee Benefits Security Administration's cybersecurity guidance.