Experienced ERISA Attorney Carol McClarnon Joins Carlton Fields’ Financial Services Regulatory Practice

WASHINGTON, D.C. – Carol McClarnon has joined Carlton Fields’ Financial Services Regulatory Practice as a shareholder in the firm’s Washington, D.C., office. She was most recently a partner at Eversheds Sutherland.

McClarnon has more than 25 years of experience in the financial services industry, focusing on compliance with Title I of ERISA and its fiduciary duty and prohibited transaction provisions. She represents retirement plan service providers and plan sponsors before the Department of Labor and IRS to resolve compliance issues through ERISA prohibited transaction exemptions, private letter rulings, and IRS voluntary compliance programs. McClarnon also works extensively with collective investment trusts and served as ERISA counsel to the Coalition of Collective Investment Trusts.

“We are thrilled to welcome Carol to the firm,” said Ann Furman, co-chair of the firm’s Financial Services Regulatory Practice. “She is a recognized leader in guiding clients through the ever-evolving DOL fiduciary rulemaking.” Added Ed Zaharewicz, co-chair of the Financial Services Regulatory Practice, “Carol’s comprehensive understanding of ERISA and tax qualification will be of immediate value to our clients, helping them navigate complex regulatory requirements and optimize their retirement plan solutions.”

In addition to her ERISA experience, McClarnon advises on the tax qualification of retirement plans and related investment products, including qualified defined contribution and defined benefit plans, IRAs, and 403(b) plans. She counsels providers of individual retirement accounts, annuities, and nonqualified annuities with regard to product tax matters. She also advises insurance companies, investment advisers, trust companies, and other financial services firms on structuring retirement products and services to satisfy tax and ERISA requirements, and developing innovative retirement products including lifetime income solutions for defined contribution plans.

“Carlton Fields’ presence in the ERISA space, coupled with the firm’s focus on the financial services industry, makes this an ideal platform for me to continue to grow my practice,” said McClarnon. “Beyond that, the firm’s culture and reputation as a collaborative group of good smart people was a big draw.”

McClarnon obtained her J.D., cum laude, from Indiana University Maurer School of Law and a B.S. from Ball State University.