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Course Details

ERISA Revenue-Sharing Arrangements: Avoiding Plan Asset Status, Complying with Due Diligence Requirements

Webinar: ID# 1013546
Recorded CD
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About This Course:
This webinar will provide ERISA counsel with the tools necessary to guide fiduciary clients in the governance of revenue-sharing arrangements. Our experienced panelists will provide best practices in utilization of excess payments, contract negotiation and credit allocation to plan participants and more.

Course Description

Financial institutions that provide services to a plan often receive payments such as 12b-1 fees and administrative services fees, oftentimes called revenue sharing payments. After the DOL finalized fee disclosures in 2012 and issued an advisory opinion in July 2013, fiduciaries must increase scrutiny of the revenue sharing arrangements.

Counsel to ERISA fiduciaries must also ensure that their arrangements do not include clauses that would cause the payments to be ERISA plan assets under the DOL advisory opinion 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, counsel must ensure that fiduciaries engage in appropriate due diligence to avoid prohibited transaction rules and qualify for the exemption under 408(b)(2).

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.

Agenda

  • Revenue sharing arrangements and plan asset status
  • DOL Advisory Opinion 2013-03A
  • 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

Benefits

The panel will review these and other key questions:

  • 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?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Elizabeth Dyer
Mayer Brown, Chicago
Ms. Dyer is a member of the firm's ERISA and Private Investment Fund Groups. She advises clients on ERISA matters relating to the structuring and offering of a wide variety of investment vehicles, and counsels plan sponsors, trustees and investment managers with respect to ERISA compliance matters, including reporting obligations and the fiduciary and prohibited transaction rules.

Lawrence N. (Larry) Vignola
Managing Principal
Stable Two Financial, Cincinnati
Prior to acquiring Stable Two Financial, Mr. Vignola spent 13 years with Fidelity Investments in a variety of roles including Senior Vice President of Client Relationship Management, SVP Marketing/Product Management, and SVP-National Sales Manager. Before his tenure with Fidelity, he served in a variety of field and home office roles within the retirement and employee benefits divisions of Aetna Financial Services.

Marcia S. Wagner
Managing Director
Wagner Law Group, Boston
Ms. Wagner is recognized as an expert in a variety of employee benefits issues and executive compensation matters, including qualified and non-qualified retirement plans, all forms of deferred compensation, and welfare benefit arrangements. She was appointed to the IRS Tax Exempt &Government Entities Advisory Committee and is a past Chair of its Employee Plans subcommittee. Ms. Wagner has written hundreds of articles and 14 books and is widely quoted in business publications as well as being a frequent guest on televised media outlets.


CPE Credits Available!


This program has been approved for 1.5 CPE hours through Strafford Publications. CPE Credit is available only for the LIVE webcast. Recorded versions do not qualify for credit.

Strafford is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

To obtain CPE credit, attendees must participate in the live event, return an Official Record of Attendance to Strafford affirming their participation (including the CPE code announced during the program), and pay a processing fee of $35 per person. Strafford then will mail a certificate of credit within approximately two weeks of receiving your completed Official Record of Attendance.

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ERISA Revenue-Sharing Arrangements: Avoiding Plan Asset Status, Complying with Due Diligence Requirements
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