Financial institutions that provide services to The Employee Retirement Income Security Act’s (ERISA) plans sometimes receive indirect compensation from investment funds and other sources, often referred to as revenue sharing payments. Market and legal trends have encouraged plan fiduciaries to become aware of and consider all sources of provider compensation when agreeing to the fees to be paid. As such, counsel to ERISA fiduciaries should be attuned to whether there are any features of the arrangements that may cause any rebated amounts to be considered “plan assets” under the Department of Labor (DOL) guidance earlier than is intended. Fiduciaries should also generally engage in appropriate due diligence to avoid any possible non-exempt prohibited transactions that could arise in connection with the services relationship. In this practical webinar, you will learn about ERISA Revenue Sharing Arrangements and best practices when engaging in these services.
Upon course completion, you will be able to:
- Incorporate due diligence in connection with revenue sharing agreements
- Outline steps that are appropriate in connection with attempting to ensure that revenue sharing amounts do prematurely constitute plan assets
- Implement best practices relating to the utilization of any excess revenue payments and any allocation of credits to plan participants
Field of Study: Finance
Program Level: Intermediate
Credit Type: Group Internet-Based for the Live Program.