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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

Recording of a 90-minute premium CLE video webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Thursday, August 12, 2021

Recorded event now available

or call 1-800-926-7926

This CLE course 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.


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.



  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?


Matta, Richard
Richard K. Matta

Groom Law Group

Mr. Matta's experience includes advising large plan fiduciaries, financial institutions and investment...  |  Read More

Oringer, Andrew
Andrew L. Oringer


Mr. Oringer is co-chair of his firm's ERISA and Executive Compensation group, and leads the firm’s...  |  Read More

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