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View More Strafford Webcasts and Conferences

ERISA Revenue Sharing Arrangements: Addressing Possible Plan Assets Status, Pursuing Due Diligence

Strafford

July 29, 2021
Recorded Online
Webcast

This CLE webinar will provide ERISA counsel with the tools necessary to guide fiduciary clients in connection with the review and negotiation of revenue sharing arrangements. Our experienced panel will address issues surrounding the utilization of excess payments, contract negotiation, credit allocation to plan participants, and more.
Description

Financial institutions that provide services to a plan receive payments such as 12b-1 fees and administrative services fees often referred to as revenue sharing payments. In light of recent high profile, multi-million dollar settlements involving these agreements, plan sponsors and fiduciaries may need to ramp up scrutiny during drafting and implementation.

Counsel to ERISA fiduciaries must also ensure that arrangements do not include clauses that would inadvertently cause the payments to be ERISA plan assets under DOL guidance. If these payments are considered plan assets, any person authorized to manage them would be an ERISA fiduciary.

Additionally, whether or not revenue sharing payments are considered plan assets, fiduciaries should engage in appropriate due diligence to avoid prohibited transaction rules and, in appropriate cases, qualify for the exemption under Section 408(b)(2) of ERISA.

Listen as our authoritative panel reviews appropriate terms and enforcement of revenue sharing agreements, applicable due diligence in avoiding prohibited transaction rules, and best practices in dealing with excess payments.
Outline

  • Revenue sharing arrangements and plan asset status
  • Fiduciary due diligence requirements
  • Best practices
    • Revenue sharing contractual terms
    • Calculation of revenue sharing payments
    • Reporting requirements
    • ERISA account tracking
    • Utilization of excess revenue sharing payments
    • Allocation to plan participants

More Information, How to Register

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