ERISA Service Provider Agreements for Retirement Plans: Negotiating, Drafting, Monitoring Agreements

Identifying, monitoring and ensuring the effectiveness of employment plan service providers raises concerns for clients due to complex ERISA compliance and business practicalities. At the selection stage, candidates’ professional licenses, insurance and fidelity bonds must be verified and examined. Negotiating and entering service agreements requires a determination of the scope of services being rendered and whether fiduciary status is met.

Contracts must meet proper compensation and fee disclosure requirements. Agreements must also account for ERISA when detailing provisions regarding the treatment of damages and indemnification, limitations of liability, and electronic communications.

This CLE webinar will prepare counsel to advise clients on negotiating and entering into service provider agreements for retirement plans. The panel will examine ERISA considerations and offer best practices for pension plan sponsors and service providers at each stage of the agreement process—from selection and negotiation through structuring a deal, drafting the agreement, and monitoring performance.

The panel will review these and other key issues:

• How to determine whether a provider is a fiduciary under ERISA—and the ramifications of that determination.
• ERISA-required provisions and disclosures that must be included in the service provider agreement.
• Additional negotiating concerns raised by ERISA rules.

For further details please click here.