Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Relationship Manager

Compass Retirement Consulting Group, Inc.
(Remote / MA / ME / NH)

Compass Retirement Consulting Group, Inc. logo

ERISA Attorney

Smith & Downey
(Towson MD)

Smith & Downey logo

Senior Retirement Plan Administrator

TPS Group
(Remote / Buffalo NY)

TPS Group logo

Retirement Plan Administrator

Nicholas Pension Consultants
(Remote / Rancho Cordova CA / Corona CA)

Nicholas Pension Consultants logo

Defined Contributions Consultant

Loren D. Stark Company (LDSCO)
(Remote / Houston TX)

Loren D. Stark Company (LDSCO) logo

DB/DC Administrator

Primark Benefits
(Remote / Burlingame CA)

Primark Benefits logo

National Healthcare Director

Nyhart, part of FuturePlan by Ascensus
(Remote / Indianapolis IN / AL / AR / CT / DC / DE / FL / GA / IA / IL / KS / KY / LA / MA / MD / ME / MI / MN / MO / MS / NC / ND / NE / NH / NJ / NY / OH / OK / PA / RI / SC / SD / TN / TX / VA / VT / WI / WV)

Nyhart, part of FuturePlan by Ascensus logo

VP Sales Consultant (Retirement)

FuturePlan, by Ascensus
(Remote / FL)

FuturePlan, by Ascensus logo

Client Service Manager

July Business Services
(Remote / Woodway TX)

July Business Services logo

Retirement Plan Administrator

Prime Benefits
(Remote / Baltimore MD)

Prime Benefits logo

Enrolled Actuary

Loren D. Stark Company (LDSCO)
(Remote / Houston TX)

Loren D. Stark Company (LDSCO) logo

Saver Success Specialist

Ubiquity Retirement + Savings
(Remote)

Ubiquity Retirement + Savings logo

Defined Benefits Combo Cash Balance Consultant

Loren D. Stark Company (LDSCO)
(Remote / Houston TX)

Loren D. Stark Company (LDSCO) logo

Retirement Plan Consultant

Cetera Retirement Plan Specialists
(Remote)

Cetera Retirement Plan Specialists logo

Defined Contribution Plan Administrator

PPS Pension Services
(Remote / Williamsville NY)

PPS Pension Services logo

DC Plan Administrator

Heritage Pension Advisors, Inc.
(Remote / Commack NY)

Heritage Pension Advisors, Inc. logo

Customer Support for Pension Software

DATAIR Employee Benefit Systems, Inc.
(Remote / Westmont IL)

DATAIR Employee Benefit Systems, Inc. logo

Plan Administrator

Aimpoint Pension
(Remote)

Aimpoint Pension logo

Client Success Specialist

Ubiquity Retirement + Savings
(Remote)

Ubiquity Retirement + Savings logo

Implementation Specialist

Ubiquity Retirement + Savings
(Remote)

Ubiquity Retirement + Savings logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon
Webcasts  >  Upcoming   |   Recorded
Conferences  >  Upcoming   |   Grouped by Location
All  >  Upcoming   |   Grouped by Sponsor

View More Strafford Webcasts and Conferences

New IRS Correction Rules for Retirement Plans: Plan Administration, Remediation of Noncompliance

Strafford

Oct. 13, 2021
Recorded Online
Webcast

This CLE webinar will provide employee benefits counsel, plan sponsors, and administrators guidance on identifying critical retirement plan issues and correction methods. The panel will discuss new IRS self-correction rules and procedures and the primary focus areas of IRS and DOL examinations and audits. The panel will address fiduciary liability and risks stemming from excessive payments to retirement plans, delinquent 401(k) loans, spousal/survivor rights under ERISA, and other challenges.

Description

The IRS and DOL continue their heightened scrutiny of retirement plans. Plan audits typically reveal noncompliance issues that can result in substantial penalties for employers. ERISA counsel and advisers must understand IRS and DOL audit initiatives and procedures, identify audit risks, and take steps to remedy noncompliance.

Major compliance risks stem from the failure to recognize plan document defects, a specific area of focus during an IRS audit of a retirement plan. On July 15, 2021, the IRS enhanced its plan correction programs to permit employers additional self-correcting operational failures.

Also, the DOL has focused, and continues to focus, on timely deposits of employee deferral contributions--so much so that some employers deposit the deferral contributions before paychecks are issued.

Compliance risks include, among others, failing to notify and pay terminated employees, not updating plans to the latest ERISA requirements, and using improper amounts to determine employee compensation. Companies risk exposure to government penalties and sanctions, such as disallowing deductions for employer contributions and plan disqualification.

In addition, recent litigation and penalties against fiduciaries, plan sponsors, and administrators have focused on excessive payments, delinquent 401(k) loans, and spousal/survivor rights. Employee benefits counsel must also navigate the nuances surrounding these issues in their analysis of their clients' administrative and operational practices.

Listen as our panel of experts discusses current IRS and DOL focus areas, correcting noncompliance, and mitigating audit risks.

Outline

  1. IRS and DOL key areas of focus
  2. Recognizing plan document defects
  3. Remedying compliance issues to avoid liability and penalties
  4. New IRS self-correction rules; effective administrative procedures and corrective actions

More Information, How to Register

© 2021 BenefitsLink.com, Inc.