Structuring Retirement Plan Internal Controls Amid Heightened IRS and DOL Scrutiny
|Date / Time:
Avoiding Violations with Plan Amendments, Target Date Funds, Investment Manager Agreements, Discrimination Testing and More!
This CLE webinar will provide ERISA counsel and advisors with the tools necessary to structure internal controls that mitigate expanded IRS and DOL audits. Our experienced panelists will provide best practices to avoid violations with plan amendments, target date funds, discrimination testing and more.
The IRS initiated an enforcement campaign focused on plan sponsors' internal controls in administering its tax-qualified retirement plans. The IRS has made it clear that by having a detailed control system, plan sponsors can avoid expanded audits. ERISA counsel should offer guidance to clients on processes that have been shown satisfactory in an IRS audit.
The sometimes more difficult and burdensome DOL audit focuses on proper plan practices and procedures. Without proper controls in place and implemented, plan sponsors can expect to face more scrutiny from the DOL auditor. One of the DOL's substantive areas of concern are the popular target-date funds for which the DOL recently issued guidance for plan sponsors.
Listen as our panel, experienced in DOL and IRS audits of retirement plans, highlights substantive areas of focus for both agencies. The panel will also provide specific guidance in establishing internal controls to address these areas and conducting internal preventive audits. Our authoritative panel will outline the substantive requirements for sponsors, identify common errors, and provide solutions for addressing and correcting problems before an audit occurs.
- Overview of internal controls
- IRS audits
- Definition of Compensation
- Plan amendments
- In-service distributions
- Suspension of benefits
- ADP/ACP Testing
- DOL audits
- Target date funds
- Consultant/investment manager agreements
- Revenue sharing/12b-1 fees
The panel will answer the following questions:
Attendees will learn the substantive areas of focus by the IRS in retirement plan audits and receive specific guidance for establishing internal controls to address these areas and conducting internal preventive audits. Attendees will gain knowledge about substantive requirements for sponsors by the IRS and DOL, common plan errors identified in audits, and solutions for addressing and correcting problems before an audit occurs.
- How must plan sponsors implement internal control processes for tax-qualified retirement plans?
- What substantive areas are of concern to the IRS and DOL?
- What specific processes should be in place to minimize violations in IRS and DOL areas of concern?
- What should plan sponsors consider when reviewing investment manager agreements and revenue sharing arrangements?
This program has been approved for CPE credits through Strafford Publications. CPE Credit is available only for the LIVE webcast. Recorded versions do not qualify for credit.
Strafford is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.
To obtain CPE credit, attendees must participate in the live event, return an Official Record of Attendance to Strafford affirming their participation (including the CPE code announced during the program), and pay a processing fee of $35 per person.
Strafford will mail a certificate of credit within approximately 2 weeks of receiving an attendee's completed Official Record of Attendance—provided all required conditions have been satisfied.
Handout materials and the phone number for live presentations are made available to you 1 day prior to the event via email from the presenter. Copies of the presentations are included with recorded versions.
If you order a recorded version of the webinar, CD's will be mailed out approximately 10 days after the live event. Shipping is included in the price of recorded versions.
Cannot Attend The Live Presentation?
This presentation is also available in a recorded format, in On-Demand Or CD versions, as shown in the pricing options below.
|About Webcasts / Audio Conferences / Podcasts:|
Webcasts, audio conferences, and podcasts are presentations that you
attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.
versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without
any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back
at work immediately after the session ends!
And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous
times and to share it with others in your office.
Handout materials and the phone number for live presentations are made available to you prior to the event via email from the
presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.
|Licenses / Designations / Educational Credits:||CPE|
All US States: 1.5
|About The Provider:
||Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417 or by visiting their website.
Strafford webinars and teleconferences offer an excellent opportunity to train your entire staff—with no lost travel time or expenses. They are extremely cost-effective—allowing an unlimited number of people at your location to listen from a single line at no additional charge.
Each live seminar features presentations by a panel of nationally recognized authorities, followed by an interactive Q&A session. Presentation materials can be viewed online or printed out. Audio can be accessed via the web or a telephone.
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