ERISA Revenue Sharing Arrangements: Avoiding Plan Asset Status, Complying With Due Diligence Requirements
|Date / Time:
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. The DOL finalized fee disclosures in 2012 and issued an advisory opinion in July 2013 requiring fiduciaries to increase scrutiny of revenue sharing arrangements.
In light of recent high profile, multi-million dollar settlements involving these agreements, fiduciaries must ramp up scrutiny during drafting and implementation.
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.
- 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
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?
This program has been approved for 2.0 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 will mail a certificate of credit within approximately 2 weeks of receiving an attendee's completed Official Record of Attendance—provided all required conditions have been satisfied.
Handout materials and the phone number for live presentations are made available to you 1 day prior to the event via email from the presenter. Copies of the presentations are included with recorded versions.
If you order a recorded version of the webinar, CD's will be mailed out approximately 10 days after the live event. Shipping is included in the price of recorded versions.
Cannot Attend The Live Presentation?
This presentation is also available in a recorded format, in On-Demand Or CD versions, as shown in the pricing options below.
|About Webcasts / Audio Conferences / Podcasts:|
Webcasts, audio conferences, and podcasts are presentations that you
attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.
versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without
any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back
at work immediately after the session ends!
And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous
times and to share it with others in your office.
Handout materials and the phone number for live presentations are made available to you prior to the event via email from the
presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.
|Licenses / Designations / Educational Credits:||CLE|
All US States: 1.5
All US States: 2
|About The Provider:
||Strafford Publications, Inc. 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. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417 or by visiting their website.
Strafford webinars and teleconferences offer an excellent opportunity to train your entire staff—with no lost travel time or expenses. They are extremely cost-effective—allowing an unlimited number of people at your location to listen from a single line at no additional charge.
Each live seminar features presentations by a panel of nationally recognized authorities, followed by an interactive Q&A session. Presentation materials can be viewed online or printed out. Audio can be accessed via the web or a telephone.
||Contact Us For More Information
||Share on Facebook
Share on Twitter
Share on Google+
How To Conduct A Reasonable Accommodation Discussion
Texas All-Lines Adjuster Pre-Licensing ONLINE Course
Xactimate Training-Live Online Training
Surplus Lines Online Exam Prep Course
Workers′ Comp Training Seminar
Cafeteria Plan Training &Certification Program
FMLA Training &Certification Program
Associate in General Insurance (AINS)
How To Read And Understand Financial Statements
ADA Training &Certification Program
Associate in Premium Auditing (APA)