401(k) Plans: Beyond the Basics

Program Dates: (Eastern Time):

• Day 1: Monday, October 28, 2024, 11:00 AM - 4:30 PM (ET)
• Day 2: Wednesday, October 30, 2024, 11:00 AM - 4:30 PM (ET)
• Day 3: Friday, November 1, 2024, 11:00 AM - 4:30 PM (ET)

 

This practical, intermediate, virtual course helps enhance your 401(k) knowledge and provides updates on the most recent 401(k) plan guidance. Incorporating the most recent legal and regulatory changes, the program extends beyond the basics to cover special 401(k) testing rules and design options. We consider many of the practical issues and problem areas for which experienced 401(k) practitioners need to be prepared.

ERISA experts present and teach using realistic case studies, clearly explaining the IRS and Department of Labor rules that govern 401(k) plans and examine 401(k)-specific plan design, administration, and compliance issues. Important new areas of discussion include guidance on the documentation of hardship distributions, new strategies for addressing missing participants, practical implications of the final fiduciary regulations, and other IRS/DOL guidance. Attendees can receive up 810 total minutes or (16) ASPPA, (16) ERPA, (16) NASBA, and (16) NIPA continuing education credit hours.

Learning Objectives

After attending this Web seminar, you should be able to:

• Identify the plans and arrangements subject to new mandatory auto-enrollment rules.
• Calculate catch-up contributions in a fiscal year plan and use plan limits to create catch-up contributions.
• Design an eligible automatic contribution arrangement (EACA) that is consistent with the final regulations, identify employee groups the plan may exclude, and explain the legal consequences of any exclusions.
• Design eligibility and vesting provisions to address concerns regarding long-term, part-time employees.
• Design matching contributions tailored to an employer’s objectives and needs.
• Explain the timing rules for notice to participants under a qualified automatic contribution arrangement (QACA) and an EACA, as well as the requirements for the timing of initiating an automatic contribution provision and of permissible withdrawal elections.
• Differentiate between the EACA and a QACA requirements and benefits and auto-enrollment requirements.
• Apply the top-paid group test in determining HCEs, taking into account relevant compensation rankings.
• Apply the average benefit test for coverage in a 401(k) plan and use restructuring to test non-uniform allocations in a safe harbor 401(k) plan.
• Explain and apply the double counting limitations with on the use of QNECs in a 401(k) plan that switches testing methods.
• Define and apply the targeting limitations for allocating QNECs to correct an ADP test failure.
• Identify and correct “associated match” nondiscrimination failures.
• Apply the “exiting” rules for a safe harbor nonelective contribution, and contrast the rules for exiting a safe harbor match.
• List the options for terminating a safe harbor 401(k) plan, and differentiate the tax consequences for each.
• Design a triple-stacked match safe harbor 401(k) plan.
• Explain the limitations of post-severance compensation for deferral and testing purposes.
• List the requirements for correction of improper exclusion of a catch-up eligible participant, failure to implement an employee’s deferral election, improper inclusion of an eligible employee and other 401(k) plan errors. 

Prerequisites

There are no prerequisites for this program. The speaker will assume that attendees have a general understanding of the operation of 401(k) and the qualified plan requirements, and a minimum of two years of experience in dealing with qualified plans.

Instructional Delivery Method

Group Internet-based

Who Should Attend

The 401(k) Plans: Beyond the Basics Virtual Workshop is an essential course for 401(k) professionals. The program provides plan administrators, recordkeepers, attorneys, accountants, consultants, and trust officers a broad understanding of 401(k) plans. The course also serves as a refresher for more experienced professionals.
 

TAKING THE ASPPA OR NIPA EXAMS?
401(k) Plans: Beyond the Basics is the ideal tool to help you prepare if you are new to the 401(k) retirement plan concepts and terminology. This comprehensive study of retirement plans is presented in a logical and easy-to-understand manner. Leave confident and prepared for the exams you may face on the way to becoming a retirement plan specialist.