Featured Jobs
|
EPIC RPS
|
|
Retirement Plan Consultants
|
|
Mergers & Acquisition Specialist Compass
|
|
Regional Vice President, Sales MAP Retirement USA LLC
|
|
Managing Director - Operations, Benefits Daybright Financial
|
|
Compass
|
|
Relationship Manager for Defined Benefit/Cash Balance Plans Daybright Financial
|
|
ESOP Administration Consultant Blue Ridge Associates
|
|
July Business Services
|
|
Retirement Plan Administration Consultant Blue Ridge Associates
|
|
Strongpoint Partners
|
|
Anchor 3(16) Fiduciary Solutions
|
|
Cash Balance/ Defined Benefit Plan Administrator Steidle Pension Solutions, LLC
|
|
DC Retirement Plan Administrator Michigan Pension & Actuarial Services, LLC
|
|
Combo Retirement Plan Administrator Strongpoint Partners
|
Free Newsletters
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
|
|
| Webinars and Podcasts |
> | Upcoming | On-Demand |
| Conferences | > | Upcoming | Grouped by Location |
| All Webinars, Podcasts and Conferences | > | Upcoming | Grouped by Sponsor |
Safe Harbor 401(k) Plan Workshop: Plan Design, Troubleshooting, and CorrectionASPPA [American Society of Pension Professionals & Actuaries] |
|
Sept. 14, 2022 - Sept. 15, 2022 On-Demand Webinar |
|
Speaker: Stephen Forbes IRS Program Number: CZTXU-Q-01495-22-O Description: Over the past 20+ years, Safe Harbor 401(k) Plans have evolved into the most popular 401(k) plan. However, many practitioners are unaware of how to effectively design a Safe Harbor 401(k) Plan to maximize its advantages, particularly how to use the ACP safe harbor features. Safe Harbor 401(k) Plans also can be a great fit with a Cross-Tested Plan. In addition, we will discuss how to utilize the special rules that affect mid-year situations, including acquisitions transactions, plan amendments and plan terminations. Finally, we will address how to correct a Safe Harbor 401(k) Plan that runs afoul of the rules. Review of the Safe Harbor 401(k) Plan rules. Plan documentation requirements; timing; safe harbor contribution options; compensation choices; short plan year; plan year and post-plan year amendments (SECURE Act changes); notice requirements; allocation requirements; distribution restrictions; vesting rules. ACP Safe Harbor requirements. Matching formulas in addition to ADP safe harbor matching formula; vesting; discretionary matching formula; fixed matching contribution formulas; multiple matching formulas; timing; vesting rules; four regulatory requirements. Designing a Safe Harbor 401(k) Plan: Choosing the safe harbor contribution (match vs. nonelective); choosing compensation definition; design options (safe harbor with profit sharing contribution, integrated contribution formula, and additional matching contributions); top heavy exempt plan design. Triple-Stacked Match Design: Designing the matching formulas; backing into the matching formulas; where to use; designing formulas to avoid annual amendments; worst case scenario; comparison with cross-tested plan design. Early Eligibility Design: Early eligibility design for deferrals; application of otherwise-excludible employee rule; effect on top-heavy exemption, excluding part-time employees. Combination Safe Harbor 401(k) and Cross-tested Plans. Disaggregated plans (nonelective, match and elective deferrals); rate group testing for nonelective contributions; required aggregation if using the average benefit test; minimum gateway; safe harbor 401(k) (nonelective vs. match); contributions that do “double duty;” Safe Harbor 401(k) Plan with a Cash Balance Plan. Correction of Safe Harbor 401(k) Plan: Failure to provide notice; failure to make quarterly matching contribution; improper exclusion; failure to implement deferral election; self-correction vs. VCP. Objectives:
|