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401(k) Testing: Testing Techniques, HCE Determination and Compensation Options

Western Pension & Benefits Council

June 25, 2019
Recorded Online

One of the more challenging aspects of 401(k) plan administration is the annual testing. Understanding the testing rules and options is a necessary skill each practitioner must develop to avoid unnecessary distributions, taxes and disqualification consequences. Misapplying the testing rules can cause distribution failures and additional taxes. Getting a handle on the various testing options can help a practitioner transform a failing plan to one that passes, and thus, avoiding unnecessary distributions and reporting. In this webcast, we will move beyond the basics and cover the different testing techniques available to a 401(k) plan.

  •          401(k) Testing Options
  •          Plan Compensation vs. Testing Compensation
  •          Who’s an HCE?
  •          Correction Ordering Rules
  •          Timing of Correction

The Speaker: Stephen Forbes, J.D.

Stephen is an ERISA attorney and educator with 32 years of experience practicing and teaching in the retirement plan area. Stephen recently returned from a three-year sabbatical where he presided over a mission for his church. Previously, Mr. Forbes was vice president of SunGard Relius in charge of Relius Education. At SunGard, he taught seminars, conferences and web seminars on retirement plan compliance, design and correction. He also helpeddraft qualified plan, 403(b), 457(b), 409A and IRA documents and other forms. He was the author of all of the editions of “The Form 5500 Filing Guide” and the co-author of “The Pension Library.” Mr. Forbes came to SunGard in the acquisition of Pension Publications of Denver, Inc. where he served as Vice President. Previous to working for PPD, he was a Tax Law Specialist at the National Office of the Internal Revenue Service(Employee Plans Division) where he worked with Master/Prototype Plans, trained IRS employees, wrote IRS Notices and Revenue Rulings and participated in several Treasury regulations committees. 

After receiving his bachelor’s degree, He graduated from Willamette College of Law. He then went on to obtain a Masters of Law degree in Taxation from the George Washington Law Center.

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