This seminar is designed for human resource and benefits professionals, accountants, CFOs, controllers, payroll managers, presidents and vice presidents, business owners and managers, office managers, insurance professionals, tax managers, financial planners, consultants and attorneys.
This day-long seminar is designed to give participants a thorough overview of the intricacies of Section 125 Cafeteria Plans and 401(k) Plans. Plan administrators, attorneys, accountants, consultants, and human resource professionals will benefit from the expertise and knowledge of our guest speakers who will be sharing hands-on, practical experience.
All of the following topics will be covered at this highly informative seminar:
• Overview Of Cafeteria Plans
• Advantages Of Cafeteria Plans
• Section 125 Cafeteria Plans
• HIPAA Privacy Rules As Applied To Cafeteria Plans
• EGTRRA And Its Impact On 401(k) Plan Design
• 401(k) Administration And The Impact Of EGTRRA
• Fiduciary And Investment Concerns
8:30 a.m. - 9:00 a.m.
I. Overview Of Cafeteria Plans
A. What Is A Cafeteria Plan?
B. Constructive Receipt And Code §125
C. Legal Framework And Plan Documentation
D. Elimination Of Reporting Requirements
E. Who Can Participate?
F. Premium Only Plans (POPs)
G. Salary Reduction Account Plans
H. Flex Dollar Plans
9:00 a.m. - 9:30 a.m.
II. Advantages Of Cafeteria Plans
A. For Employers
B. For Employees
D. When They Can Be Used
9:30 a.m. - 11:40 a.m.
(Break 10:30 a.m. - 10:40 a.m.)
III. Section 125 Cafeteria Plans
A. Non-Discrimination Rules
B. Change In Status Rules
C. General Legal Requirements
11:40 a.m. - 12:00 p.m.
IV. HIPAA Privacy Rules As Applied To
A. The HIPAA Privacy Rules
1. What The Rules Are
2. The Plans To Which They Apply
3. Recommendations For Compliance
4. Individual Authorizations
5. Business Associate Agreements
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 1:40 p.m.
V. EGTRRA And Its Impact On 401(k)
A. Business Deduction Limits
B. Participant Limits
1. Section 415
2. Elective Deferrals
3. Catch-Up Contributions
C. Plan Design
1. Elective Deferral Percentage
2. Matching And Profit Sharing Contributions
3. Safe-Harbor Rules
4. Cross-Tested Plans
5. 401(k) Wrap Plans
6. Single Owner Plans
1:40 p.m. - 3:05 p.m.
(Break 2:30 p.m. - 2:40 p.m.)
VI. 401(k) Administration And The Impact
A. Definition Of Key Employee For Top-Heavy Rules
B. Elimination Of Multiple Test
C. Vesting Of Matching Contributions
D. Participant Loans
E. Hardship Withdrawals
F. Rollover Options
G. Credit For Implementation Costs
H. Credit For Deferrals
J. 401(k) Plan Coverage Rules
1. Minimum Coverage (Section 410(b))
2. Leased Employees
3. Controlled Group Rules
4. Affiliated Service Groups
K. Testing Issues And Contribution Limits
1. Highly Compensated Employees
2. The ADP/ACP Tests
a. Current Year And Prior Year Testing
b. Corrective Measures
3. Top-Heavy Testing
4. Excess Elective Deferrals
5. Section 415 Testing
6. Maximum Deduction Limits (Section 404)
L. Blackout Periods
3:05 p.m. - 4:00 p.m.
VII. Fiduciary And Investment Concerns
A. Who Is A Fiduciary?
B. Settlor and Fiduciary Functions
C. Fiduciary And “Ministerial” Actions
D. ERISA 404(c) And Self-Directed Investments
E. Education vs. Advice
F. The Selection And Oversight Of Investment Providers
G. Special Concerns Of Employer Stock
H. The Aftermath Of Enron
I. Recommendations For Liability Protection
1. Plan Document
2. Investment Policy Statement
3. Other Documents
4. ERISA 404(c) Program
5. It’s The Process
4:00 p.m. - 4:30 p.m.
VIII. Question And Answer