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.
- What are the Fiduciary Rules that Apply to Section 403(b) Plans?
- Recordkeeping and Investment Issues for Section 403(b) Plans.
- The True Costs for Administering Section 403(b) Plans and When to Conduct an RFP Project.
- How to Work with Auditors who are Unfamiliar with Section 403(b) Plans.
- Service Agreement and Vendor Issues for Section 403(b) Plans.
- Should Employers Sponsoring Section 403(b) Plans Consider Shifting to Section 401(k) Plans?
- Section 457 Multiple Employer Plans (MEPs).
- Housing Allowances, Vows of Poverty, and Other Issues Unique to Religious Organizations.
- 403(b)(9) Retirement Income Accounts – What They Are and Why They Are Unique?
- Common Errors with Section 457 Plans and the IRS’ Error Correction Program.
- 457 Plan Documents and Statutory Plans.
- Special Governmental Plan Issues, including the definition of “governmental entity,” grandfathered governmental 401(k) plans and 415(m) plans.
- Conducting Requests for Proposal (RFP) Projects for Section 457(b) Plans.
Moderator: Frank Palmieri, Palmieri & Eisenberg, Princeton, NJ
- Weiyen “Ann” Jonas, Fidelity Investments Legal Department, Westlake, TX
- Robert J. Toth, Jr., Law Office of Robert J. Toth, Jr., LLC, Fort Wayne, IN
- Evan Giller, Boutwell Fay LLP, New York, NY
Credits: 1.50 General CLE Credit Hours
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