Compensation definitions are a crucial consideration for all types of retirement plans, which impacts both contributions and compliance testing. Practitioners should be familiar with the various adjustments that can make to the compensation definition, as they can save the employer money and affect testing.
This webcast will detail the different compensation design options, alternatives for different types of contributions, alternatives for compliance testing, permissible adjustments to the compensation definitions, the plan economics of each choice, and definitions for different qualification rules. In addition, it will explain the correction options when an employer does not follow the plan terms.
- Distinguish between the safe-harbor compensation definitions
- Design a cost-effective contribution formula
- Select a correction method for a plan that has operated inconsistently with its terms
- Identify the appropriate compensation definition for testing
- Determine which options will produce better plan economics
Speaker: J David C. Schultz, APM, Esq., Product Manager, FIS Wealth and Retirement
Continue by clicking on the following link: