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  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel ERISA
  • schedule 90 minutes

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

Utilization of Excess Payments, Contract Negotiations, Allocation of Credits to Plan Participants, and More

$347.00

This course is $0 with these passes:

CLE
ALL
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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 high-profile, multimillion-dollar settlements involving these agreements, plan sponsors and fiduciaries may need to ramp up scrutiny during drafting and implementation.

Counsel to ERISA fiduciaries play a key role in evaluating whether revenue sharing arrangements are or are not plan assets and what processes and controls plan fiduciaries apply in managing these amounts.

Additionally, whether or not revenue sharing payments are considered plan assets, fiduciaries may wish to 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.

Presented By

David N. Levine
Principal
Groom Law Group Chtd - Washington

Mr. Levine advises plan sponsors, advisors, and other service providers on a wide range of employee benefits matters, from retirement and executive compensation to health and welfare plan matters. He advises on the design and redesign of complex retirement, executive, and health and welfare plans; ongoing, day-to-day counseling of plan sponsors; in-depth compliance reviews of corporate and governmental benefit programs; products and compliance for retirement and health service providers, and representation of tax-exempt organizations with respect to issues involving corporate governance, executive compensation, and unrelated business income tax liability.

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Andrew L. Oringer
Partner
The Wagner Law Group, LLP

Mr. Oringer is co-chair of his firm's ERISA and Executive Compensation group, and leads the firm’s national fiduciary practice in New York. He counsels clients on their employee benefit plans and programs, benefits-related tax matters and fiduciary issues arising in connection with the investment of employee benefit plan assets. His practice includes advising clients regarding ERISA and employee benefits generally, including 401(k) and other retirement plans as well as medical and other welfare plans. His advice to clients encompasses all aspects of corporate transactions and initial public offerings in which benefits and compensation issues play a central part.

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Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, August 20, 2024

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. Revenue sharing arrangements and plan asset status
  2. Fiduciary due diligence requirements
  3. Best practices
    1. Revenue sharing contractual terms
    2. Calculation of revenue sharing payments
    3. Reporting requirements
    4. ERISA account tracking
    5. Utilization of excess revenue sharing payments
    6. Allocation to plan participants

The panel will review these and other key issues:

  • How should revenue sharing agreements be drafted so that revenue sharing payments are not considered plan assets?
  • What are the fiduciary due diligence requirements related to revenue sharing agreements?
  • What are the best practices in utilizing excess revenue payments and credit allocation to plan participants?