Conducting Effective Service Provider RFPs for ERISA Retirement Plans

Crafting Comprehensive Proposals to Meet Fiduciary Duties and to Avoid Litigation and DOL Audits

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


Conducted on Thursday, July 13, 2017
Recorded event now available


This CLE webinar will prepare employee benefits counsel and ERISA plan fiduciaries to conduct more optimal requests for proposals (RFPs) for retirement plan service providers. We will discuss when and how often plan fiduciaries should undertake the RFP process, outline the elements that make up a comprehensive and effective RFP, and offer practice pointers for using the RFP process to meet ERISA fiduciary duties and achieve plan goals.

Description

Companies have important fiduciary responsibilities under ERISA to properly select and monitor the effectiveness of the service providers for their retirement plans and the reasonableness of their fees. Legal counsel and human resources/employee benefits professionals can assist companies in meeting their fiduciary duties on these considerations by conducting periodic RFPs.

Conducting RFPs can be expensive and time consuming, but best practices generally require that plan sponsors engage in an RFP process every few years to satisfy ongoing ERISA fiduciary and monitoring responsibilities. As a result, and because participant lawsuits filed under ERISA and IRS/DOL audits relating to plan service providers have increased significantly in recent years, in-house counsel should be prepared to guide their companies through robust RFP processes.

Listen as our experienced panel prepares employee benefits counsel and ERISA plan fiduciaries to plan for and conduct RFPs for retirement plan service providers. The panel will discuss when plan fiduciaries should undertake the RFP process to meet DOL requirements, outline the elements that make up a comprehensive and effective RFP, and offer practice pointers for using the RFP process to meet fiduciary duties and achieve plan goals.

Outline

  1. Overview of ERISA requirements and DOL guidance
  2. Elements of a thorough RFP questionnaire
  3. Interviewing service provider candidates
  4. Documenting the RFP process

Benefits

The panel will review these and other key issues:

  • When and how often should plan fiduciaries undertake the RFP process?
  • What essential questions should be included in the RFP questionnaire?
  • How can my company obtain enhanced contractual provisions in the agreements with our service providers?

Faculty

W. Andrew Douglass, Shareholder, Employee Benefits Practice Group Chair
Polsinelli, Chicago

Mr. Douglass regularly counsels both public and private companies on their qualified and nonqualified retirement plans, health and welfare plans, and other benefit arrangements. In particular, Mr. Douglass has extensive experience helping employers in matters relating to plan design and administration, fiduciary responsibilities and plan governance issues, and negotiating agreements with plan service providers. He is Chair of the firm’s Employee Benefits and Executive Compensation Practice.

Roberta Casper Watson, Partner
The Wagner Law Group, Boston

Ms. Watson is the leader of the firm’s Health and Welfare Practice. Her practice is in the areas of ERISA and employee benefits, with a focus on pension and profit sharing plans and health and welfare benefits. Ms. Watson advises clients with respect to qualified plans, ERISA fiduciary issues and decision-making, ESOPs, employee benefits aspects of family law, labor laws affecting employee benefits. She is actively involved in and a past Chair of the American Bar Association Tax Section’s Employee Benefits Committee, the ABA’s Joint Committee on Employee Benefits, the ABA Health Law Section’s Employee Benefits Interest Group.


Recordings

CLE On-Demand - Streaming Video

Includes recorded streaming video of full program plus PDF handouts.

On-demand is the only recorded format recognized for CLE credits in DE, IN, KS, LA, MS, NC, OH, OK, SC, TN, VA, WI.

AK, AZ, CA, CO, CT, DE, FL, GA, HI, IA, ID, IL, IN*, KS, KY, LA, ME, MN, MO, MT, NC, ND, NH**, NJ, NM, NV, NY, OH*, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY (Note: Some states restrict CLE eligibility based on the age of a program. Refer to our state CLE Map for additional information.)

*Only available for attorneys admitted for more than two years. For OH CLE credits, only programs recorded within the current calendar year are eligible - contact the CLE department for verification.

**NH attendees must self-determine if a program is eligible for credit and self-report their attendance.

CLE On-Demand Video $297.00

How does this work?


Recorded Event

Includes full event recording plus handouts.

Strafford is an approved provider and self-study CLE credit is available in most states.

AK, AZ, CA, CO, CT, FL, GA, HI, IA, ID, IL, KY, ME, MN, MO, MT, ND, NJ, NM, NY, OR, PA, TN, TX, UT, VT, WA, WV, WY (Note: Some states restrict CLE eligibility based on the age of a program. Refer to our state CLE Map for additional information.)

Strafford will process CLE credit for one person on each recording.

Additional copies of a recording can be purchased at a discount. Please call Strafford Customer Service toll-free at 1-800-926-7926 ext 10 or email customerservice@straffordpub.com to place your order.

Recorded Webinar Download $297.00

How does this work?

Recorded Audio Download (MP3) $297.00

How does this work?


Webinar

Strafford webinars offer several options for participation: online viewing of speaker-controlled PowerPoint presentations with audio via computer speakers or via phone; or audio only via telephone (download speaker handouts prior to the program).  Please note that our webinars do not feature videos of the presenters.

Program Materials

Requires Adobe Reader 8 or later. Download Acrobat FREE.

Program Materials

Requires Adobe Reader 8 or later. Download Acrobat FREE.

or call 1-800-926-7926

CLE Credits

Many states grant CLE credits for on-demand streaming audio programs and recorded events. Our programs are pre-approved in many states. Refer to our state CLE map for state-specific information.

or call 1-800-926-7926

Customer Reviews

The seminar was understandable, fluid and thorough for the topics covered.

Susan L. Dolin, Esq.

Susan L. Dolin

I appreciated the speakers' extensive knowledge on the subject.

Amanda Gerstnecker

Meyer, Unkovic & Scott

The speakers possessed great technical knowledge and experience.

Ken Watt

Frederic Dorwart, Lawyers

The webinar addressed exactly what I needed for this area of my practice. Very useful information and very impressive program.

Nona Massengill

Williams Mullen

I appreciated the practical solutions to common problems.

Patricia Killian

McCarter & English

or call 1-800-926-7926

Employment & ERISA Advisory Board

Susan E. Bernstein

Special Counsel

Schulte Roth & Zabel

Judith (Jude) Biggs

Partner

Holland & Hart

Joshua Davis

Director

Goulston & Storrs

Barbara E. Hoey

Partner

Kelley Drye

Jeffrey Hollingsworth

Partner

Perkins Coie

Diana L. Hoover

Partner

Hoover Kernell

Paul J. Kennedy

Shareholder

Littler Mendelson

Marcia Nelson Jackson

Partner

Wick Phillips

William C. Martucci

Partner

Shook Hardy & Bacon

Laura Foote Reiff

Shareholder

Greenberg Traurig

Eugene Scalia

Partner

Gibson Dunn & Crutcher

Peter Steinmeyer

Member

Epstein Becker & Green

Teresa R. Tracy

Partner

Freeman Freeman Smiley

Todd D. Wozniak

Shareholder

Greenberg Traurig

or call 1-800-926-7926

Our Guarantee

Strafford webinars are backed by our 100% Unconditional Money-Back Guarantee: if you are not satisfied with any of our products, simply let us know and get a full refund. For more information regarding complaints and refunds, please contact us at 1-800-926-7926 ext 10. Complaints regarding this program can be submitted via the course evaluation found in the “Thank you” e-mail at the end of the course.