Michael Prame

Practice Areas

Since joining the firm in 1999, Mike’s practice has focused on defending lawsuits brought against either fiduciaries of benefit plans or service providers to benefit plans. Most often, the matters are filed as class actions, but Mike also represents defendants in litigation, arbitrations, and Department of Labor investigations with significant financial or reputational implications. He partners with in-house counsel to distill and communicate what can be challenging legal issues in a way that is effective for senior leadership teams, and he leverages decades of experience to develop cost-effective defense strategies. Mike has a track record of successfully trying cases to verdict.

Most recently, Mike led teams that:

* obtained a defense verdict following an eight-day trial regarding whether the use of target risk funds in a 401(k) plan violated ERISA’s duties of prudence and loyalty. Mattson v. Milliman, Inc., 2024 WL 3024875 (W.D. Wa. 2024).

* secured the dismissal of ERISA claims related to an employer’s use of forfeitures to offset future employer contributions. Naylor v. BAE Systems, Inc., 2024 WL 4112322 (E.D. Va. 2024).

* won summary judgment for a benefit consulting firm on breach of contract and negligence claims that a municipality filed related to the transition from a fully-insured to a self-funded health plan. City of Albuquerque v. Segal Co., 2023 WL 6377481 (D. N.M. 2023).

In addition to his litigation work, Mike leverages his accounting background and experience with actuarial principles to help his clients with defined benefit plans work through the legal and financial issues either being raised by the PBGC or by parties in the context of M&A activity. This work often includes identifying proactive measures the client can take to address potential areas of concern. In other matters involving the PBGC, it can involve a financial settlement or litigation.

Education