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Michael B. Richman

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Michael B. Richman counsels clients on the fiduciary responsibility rules under the Employee Retirement Income Security Act (ERISA), including the ERISA prohibited transaction rules. He advises plan sponsors on investment matters for defined benefit and defined contribution plans. He also counsels banks, investment adviser firms, and broker-dealer firms on ERISA compliance for ERISA plan separately-managed accounts, collective investment funds, private funds, and other arrangements. Additionally, he provides guidance to IRA custodians on permissible IRA investments and investment restrictions.

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Regulation of Retail Investment Advice
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ML BeneBits
Covering a full range of Benefits and Compensation Topics

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DOL’s Proposed Rule on Pooled Plan Provider Registration and Other Guidance, Bloomberg Tax

Michael also advises clients on fiduciary governance of ERISA plans, as well as on prohibited transaction and fiduciary responsibility issues in proposed transactions and transactions under government investigation. Michael prepares requests to the US Department of Labor (DOL) for prohibited transaction exemptions and advisory opinions.

Before joining Morgan Lewis, Michael was counsel in the benefits and executive compensation, and investment management groups at one of the world’s largest global law firms.

A frequent writer, Michael has authored or coauthored a book, book chapters, and a number of articles on ERISA, benefits, and securities issues.


  • Columbia Law School, 1988, J.D.
  • Princeton University, 1985, A.B., Magna Cum Laude
  • District of Columbia
  • Maryland
  • US District Court for the District of Maryland

Ranked, Employee Benefits & Executive Compensation, District of Columbia, Chambers USA (2022–2024)

Listed, The Best Lawyers in America, Employee Benefits (ERISA) Law, Washington, DC (2022–2025)

Member, Practice Group of the Year, Benefits, Law360 (2022)

Member, Law Firm of the Year, Employee Benefits & Executive Compensation, Chambers USA (2019)

Member, Law Firm of the Year, Employee Benefits (ERISA Law), US News/Best Lawyers – Best Law Firms (2019)

Recommended, The Legal 500 US (2016)