PBMs Under the Microscope: ERISA Fiduciary Risk, Transparency Mandates, and the New Regulatory Order

Wednesday, May 28, 2026 | 1:00 PM ET

As pharmacy benefit managers face unprecedented scrutiny, ERISA fiduciaries are entering a new era of transparency, accountability, and litigation risk. Join the American Bar Association’s Joint Committee on Employee Benefits and the American College on Employee Benefit Counsel for a timely and practical webinar examining how evolving federal mandates are reshaping PBM arrangements—and what plan fiduciaries must do now to mitigate risk. This program will explore the expanding fiduciary and disclosure expectations surrounding PBM compensation structures, conflicts of interest, and information-sharing practices, with special focus on reforms accelerated by the Consolidated Appropriations Act, 2026. The panel will also assess the Department of Labor’s newly proposed regulation requiring detailed disclosure of PBM compensation to ERISA fiduciaries, heightening the importance of reasonableness determinations and prohibited transaction analysis. In addition, speakers will analyze the federal district court’s recent decision in Stern v. J.P. Morgan, underscoring the growing litigation exposure tied to PBM selection and oversight. Moderated by Jason P. Lacey (Palmieri & Eisenberg), this session features insights from Alden J. Bianchi (SBMA, LLC), Carolyn M. Trenda (McGuireWoods LLP), and Mary E. Powell (Trucker Huss), offering actionable guidance for attorneys, fiduciaries, and benefits professionals navigating this rapidly evolving regulatory landscape.

Register today and join us!  ⟶