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

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

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

Conducted on Tuesday, July 18, 2017

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will provide ERISA counsel with the tools necessary to guide fiduciary clients in the governance of revenue sharing arrangements. Our experienced panel will provide best practices in utilization of excess payments, contract negotiation and credit allocation to plan participants, and more.


Financial institutions that provide services to a plan frequently receive payments such as 12b-1 fees and administrative services fees, oftentimes called revenue sharing payments. 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.



  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?


Wagner, Marcia
Marcia S. Wagner

Managing Director
Wagner Law Group

Ms. Wagner is recognized as an expert in a variety of employee benefits issues and executive compensation matters,...  |  Read More

Koehler, Philip
Philip J. Koehler, Esq.

Founder and CEO
ERISA Fiduciary Administrators

Mr. Koehler is a highly experienced ERISA attorney, having practiced in large law firms, e.g. Morrison & Foerster...  |  Read More

Joshua J. Waldbeser
Joshua J. Waldbeser

Drinker Biddle & Reath

Mr. Waldbeser counsels plan sponsors and committees with respect to their fiduciary responsibilities under ERISA, as...  |  Read More

Hubbell, Brian
Brian C. Hubbell, AIF

Hubbell Consulting

Mr. Hubbell has over 30 years of experience exclusively in the field of employer sponsored retirement plans. He began...  |  Read More

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