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Practical Issues for Section 403(b) and 457 Plans for Not-For-Profit, Governmental and Religious Organizations
Nov. 16, 2017
This Program will focus on the history of Section 403(b) Plans and Section 457 Plans and what makes them different from Section 401(k) Plans.
This experienced legal panel will take a deep dive on practical problems to be considered and solutions presented. Rev. Proc. 2017-18 currently extends a remedial amendment period through March 31, 2020 to “fix” Section 403(b) document deficiencies, which many not-for-profit entities should embrace. Correcting 403(b) errors under the Voluntary Correction Program (VCP) will be considered, as well as the use of Section 457(b) and Section 457(f) Programs to enhance executive benefits.
- The History of Section 403(b) Plans and What Makes Them Unique.
- What are the Differences between ERISA Covered and Non-ERISA 403(b) Plans?
- DOL Safe Harbor Non-ERISA 403(b) Plans.
- Plan Document Considerations: New Section 403(b) Volume Submitter and Prototype Plans are just being approved – Are they for you?
- Why were Administrative Requirement Checklists required to be an IRS-Approved Documents?
- Use of the Remedial Amendment provided by Rev. Proc. 2017-18 before March 31, 2020.
- Typical Document Errors and Deficiencies due to the Lack of a 403(b) Determination Letter Program.
- Investment Issues for 403(b) Plans: Funding Vehicles – Individual and Group Annuity Contracts and Custodial Accounts.
- College and University 403(b) Plan Fee Litigation.
- The History of Section 457 Plans and What Makes Them Unique.
- Three types of 457 plans but only 2 Code Sections – Yikes!
- Application of Code Section 409A to 457 Plans.
- How to Maximize Benefits for Executives Using 457 Plans.
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