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Service Agreements
Presentor: David Schultz Recorded Date: 4/10/2015 Duration: 100 Min.

Description
This program was recorded during a live presentation given on April 10, 2015 at 12:00PM EST.
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Retirement plan fiduciaries have an obligation to carefully review their service arrangements with providers to ensure that appropriate services are provided and to negotiate favorable terms. The DOL fee disclosure regulations, coupled with a recent increase in participant lawsuits against employers for failing to monitor plan service providers, raise and further highlight the risks of not having a written agreement in place. Written service agreements are a prudent way for both fiduciaries and service providers to minimize disputes over provided services, but developing an appropriate agreement can be tricky.

This Web seminar is designed for retirement plan practitioners who negotiate or utilize service agreements for retirement plans. The seminar will review many of the best practices and ERISA considerations associated with negotiating service agreements.

Topics include:

  • Detailing the services provided (and those not provided)
  • Highlighting client responsibilities
  • Concerns associated with takeover plans
  • Addressing fee or payment disputes
  • Is the provider a fiduciary under ERISA?
  • Drafting service provider agreements
  • Damages/indemnification provisions
  • Limitation of liability
  • Termination provisions
  • Required compensation/fee disclosures
Prerequisites:

There are no prerequisites or advance preparation for this presentation.

Level: Intermediate.

Instructional Delivery Method
Group – Internet-Based

Speaker: David Schultz, J.D.

Objectives: After attending this Web seminar, an attendee should be able to:

 

  1. Identify key benefits and risks associated with written service agreements
  2. Determine important provisions to include in all agreements
  3. Understand issues associated with fee disputes, non-payment of fees, and contract termination
  4. Determine whether a service provider is a fiduciary under ERISA

 

How to participate

You will need a phone (speakerphone, for multiple participants sharing the Primary registrant’s authorized connection) and Internet Access. The graphics presentation and illustrations will be viewed via the Primary registrant’s Web connection, while the speaker audio portion will be via the Primary registrant’s telephone. Select the ""Fees"" link on the right side menu of this page for more information about who is authorized to connect to the program, and for the cancellation/transfer policy.

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