Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Defined Benefit Consultant/Enrolled Actuary

Pension Plan Specialists, PC
(Vancouver WA)

Pension Plan Specialists, PC logo

Retirement Plan Consultant

July Business Services
(Remote / Woodway TX)

July Business Services logo

AVP and Assistant General Counsel, Employee Benefits

MetLife
(New York NY / Whippany NJ / Cary NC / Hybrid)

MetLife logo

Defined Contribution Retirement Plan Senior Administrator

First American Bank
(Elk Grove Village IL / Hybrid)

First American Bank logo

Retirement Plan Administrator

CMC Pension Professionals
(Remote)

CMC Pension Professionals logo

Regional Sales Director (West)

July Business Services
(Remote)

July Business Services logo

401(k) Retirement Plan Consultant

Aboon
(Remote)

Aboon logo

Senior Retirement Plan Administrator

Envoy Financial
(Colorado Springs CO / Hybrid)

Envoy Financial logo

Manager of DC/DB Administration Team

Small TPA Firm
(Remote / NJ)

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile app icon
LinkedIn icon     Twitter icon     Facebook icon
Webinars
and Podcasts
  >  Upcoming   |   Recorded
Conferences
(In-Person or Virtual)
  >  Upcoming   |   Grouped by Location
All   >  Upcoming   |   Grouped by Sponsor

View More Strafford Webinars, Podcasts and Conferences

Conducting Effective Service Provider RFPs for ERISA Retirement and Health Plans

Strafford

June 11, 2024
1
Webinar

This CLE course will prepare in-house counsel and ERISA plan fiduciaries to conduct requests for proposals (RFPs) for retirement plan service providers. The panel will discuss when and how often plan fiduciaries should undertake an RFP process, outline the elements that make up a comprehensive and effective RFP, and offer practice pointers to meet ERISA fiduciary duties and achieve better outcomes for the company and plan participants.

Description

Companies have important fiduciary responsibilities under ERISA to properly select and monitor the effectiveness of the service providers for their retirement plans and the reasonableness of their fees. Legal counsel and human resources/employee benefits professionals can assist companies in meeting their fiduciary duties on these considerations by conducting periodic RFPs.

Best practices generally require that plan sponsors engage in an RFP process every few years to satisfy ongoing ERISA fiduciary and monitoring responsibilities. Because participant lawsuits filed under ERISA and IRS/DOL audits relating to plan service providers have increased significantly in recent years, counsel should prepare to guide their companies through RFP processes.

Listen as our experienced panel prepares employee benefits counsel and ERISA plan fiduciaries to plan for and conduct RFPs for retirement plan service providers. The panel will discuss when plan fiduciaries should undertake an RFP process, outline the elements that make up a comprehensive and effective RFP, and offer practice pointers for using the RFP process to meet fiduciary duties and achieve plan goals.

Outline

  1. Overview of ERISA requirements and DOL guidance
  2. Elements of a thorough RFP questionnaire
  3. Interviewing service provider candidates
  4. Documenting the RFP process

More Information, How to Register

© 2024 BenefitsLink.com, Inc.