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IRS Compliance and Governmental CLE

IRS Compliance and Governmental

Live Webcast Date: Wednesday, November 09, 2011 from 12:00 pm to 2:00 pm (ET)
Legal (CLE)Recording

IRS Compliance and Governmental

Join us for this Knowledge Group IRS Compliance and Governmental Webinar. Understanding proposed tax compliance guidance from the IRS regarding government retirement plans a challenge for plan sponsors, participants and beneficiaries in 2011 and beyond. Plan sponsors can anticipate increased IRS scrutiny and must prepare for the increased likelihood of examination.

IRS Compliance & Governmental Retirement Plans Explored Webcast is a must attend event web event for plan sponsors, beneficiaries, participants and related professionals.

Some important issues covered:

  • Governmental Pick-up Plan Guidance
  • Fiduciary Standards Applicable to Governmental Plans
  • Section 414(d) Governmental Plans Requirements
  • Benefit Rule for Governmental Plans Participating in Group Trusts
  • Employee Plans Compliance Resolution System
  • And other Up to the Minute Regulatory Updates

A panel of distinguished government officials and thought leaders will provide valuable information and analysis to help you navigate around the retirement plan potential pitfalls in a two-hour webcast organized by the Knowledge Group.

Agenda

SEGMENT 1:
Barbara D. Bovbjerg, Managing Director, Education, Workforce, and Income Security, 
U.S. Government Accountability Office

  • Situations and Issues for Public Plans
    • Funding
    • Governance
    • Relationship with Social Security
    • Role of the Government including IRS

SEGMENT 2:
Carol McClarnon, Of Counsel, 
Giller & Calhoun

  • Common Compliance Errors in Governmental Plans
  • EPCRS: IRS Correction Programs for Qualified Plans and 403(b) Plans
  • Fiduciary Duties and the Governmental Plan Administrator

SEGMENT 3:
Mike Hadley, Partner, 
Davis & Harman LLP

  • Which plans qualify as “government plans” under the Internal Revenue Code and ERISA?
  • What are “pick-up” contributions for public employees? Why do they matter? And what new rules regarding pick-up contributions are under consideration at the IRS?
  • What are the latest rules governing government plan participation in group trusts that commingle assets with other qualified plan contributions?

Who Should Attend

  • Plan Sponsors & Fiduciaries
  • Retirement Professionals/Advisors
  • CFOs
  • Tax Lawyers
  • Tax Advisers
  • Compliance Officers
  • General Counsel
  • Governmental Retirement Plan Practicing Lawyers
  • CPAs
  • Retirement Plan Sponsors
  • Third Party Retirement Plan Sponsors
  • Participants
  • Employee Benefits Professionals
  • Human Resource Managers who oversee governmental retirement plan
  • Financial Advisers
  • Industry Watchers

IRS Compliance and Governmental

SEGMENT 1:
Barbara D. Bovbjerg, Managing Director, Education, Workforce, and Income Security, 
U.S. Government Accountability Office

  • Situations and Issues for Public Plans
    • Funding
    • Governance
    • Relationship with Social Security
    • Role of the Government including IRS

SEGMENT 2:
Carol McClarnon, Of Counsel, 
Giller & Calhoun

  • Common Compliance Errors in Governmental Plans
  • EPCRS: IRS Correction Programs for Qualified Plans and 403(b) Plans
  • Fiduciary Duties and the Governmental Plan Administrator

SEGMENT 3:
Mike Hadley, Partner, 
Davis & Harman LLP

  • Which plans qualify as “government plans” under the Internal Revenue Code and ERISA?
  • What are “pick-up” contributions for public employees? Why do they matter? And what new rules regarding pick-up contributions are under consideration at the IRS?
  • What are the latest rules governing government plan participation in group trusts that commingle assets with other qualified plan contributions?

IRS Compliance and Governmental

IRS Compliance and Governmental

Barbara D. BovbjergManaging Director, Education, Workforce, and Income SecurityU.S. Government Accountability Office

Barbara Bovbjerg is the Managing Director for Education, Workforce and Income Security Issues at the U.S. Government Accountability Office. In that capacity, she oversees all GAO’s evaluative work in those subject areas, ranging from elementary and secondary education, through workforce and employment issues, to aging and retirement income policy. Previously Ms. Bovbjerg was the Director for Retirement Income Security, and in that capacity managed studies on Social Security and pension policy and management. Earlier, as Assistant Director for Budget Issues at GAO, she managed a variety of budget policy projects, including studies on the long-term effects of budget deficits. Before joining GAO, she led the citywide analysis unit of the District of Columbia’s Budget Office, and analyzed state and local government finance issues for the Urban Institute.
Ms.Bovbjerg holds a Masters Degree in Public Policy from Cornell University, and a B.A. from Oberlin College.

IRS Compliance and Governmental

Carol McClarnonOf CounselGiller & Calhoun

Carol McClarnon is Of Counsel to Giller & Calhoun, LLP. She has over 20 years of law firm experience providing employee benefits and tax compliance advice to employers and plan service providers. She has extensive experience representing clients in controversies and compliance matters before the Internal Revenue Service and the U.S. Department of Labor.

Carol’s experience covers the full range of retirement plans for both public and private employers, including defined benefit and money purchase pension plans, profit-sharing and 401(k) plans, 403(a) and 403(b) annuity plans, 457(b) and 457(f) plans, non-qualified deferred compensation plans and individual retirement plans. In addition to drafting and reviewing plan documents, she has represented plan sponsors in obtaining voluntary compliance relief, prohibited transaction exemptions and private letter rulings in connection with their plans. Carol also has worked with financial services companies on sophisticated ERISA and tax issues arising in the retirement services and insurance product operations of their businesses, including the legal analysis of cutting edge annuity and retirement plan product development.

Carol graduated cum laude from Indiana University School of Law – Bloomington and was a managing editor of the Indiana Law Journal. She has been active in the American Bar Association, having served as Vice Chair of the Employee Benefits Committee of the Tort and Insurance Practice Section. Carol serves on the Board of Directors of Synergy Nonprofit, Inc., a 501(c)(3) organization supporting global environmental education and cultural preservation. She is admitted to practice law in the District of Columbia.

IRS Compliance and Governmental

Mike HadleyPartnerDavis & Harman LLP

Michael Hadley is a partner in the law firm Davis & Harman LLP. He practices in the area of employee benefits, advising clients on the full range of tax, ERISA, and other laws affecting benefit plans. He has a particular focus on helping financial institutions that sell products to defined contribution and defined benefit plans, IRAs and 529 plans navigate the special rules that govern those plans. He also provides clients with strategic advice, plan design, counseling, and compliance assistance for qualified plans, 403(b) and 457 plans, non-qualified executive compensation, equity plans, employment agreements, and health and other welfare plans.

Mr. Hadley was Associate Counsel for Pension Regulation at the Investment Company Institute, the national association of U.S. investment companies. His responsibilities included advocating for the Institute’s membership before Congress, the Department of Labor, the Department of the Treasury, and the Securities Exchange Commission on retirement security issues and assisting ICI members and staff in understanding tax and ERISA rules that affect defined contribution plans, IRAs, and similar savings vehicles. Among other duties he managed ICI’s work implementing the Pension Protection Act and responding to 401(k) fee, investment advice, and fiduciary developments in Congress, DOL, and the courts.

Prior to joining ICI, Mr. Hadley was an associate with Covington & Burling LLP, where he advised clients on a broad range of employee benefit plans and executive compensation arrangements, provided expert advice on ERISA litigation, and assisted with pension and benefits issues in mergers, acquisitions, and other corporate transactions.

Mr. Hadley is a frequent speaker on the latest retirement savings policy developments coming out of Congress and the regulatory agencies. He co-authored The Economics of Providing 401(k) Plans: Services, Fees, and Expenses, 2010 ICI Research Perspective, Vol.17, No. 4 (June 2011) (with Sarah Holden and Shaun Lutz) and 401(k) Plans: A 25-Year Retrospective, ICI Research Perspective, Vol. 12, No. 2 (Nov. 2006) (with Sarah Holden and Peter Brady).

Mr. Hadley was a law clerk for the Honorable Gerald Tjoflat, U.S. Court of Appeals for the Eleventh Circuit. He received his J.D. from the University of Virginia, where he was Notes Editor of the Virginia Law Review and elected to the Order of the Coif. He received his B.A., cum laude, from the College of William and Mary.

PRIOR EXPERIENCE
Associate Counsel for Pension Regulation, Investment Company Institute
Associate, Covington & Burling
Law Clerk to Hon. Gerald Tjoflat, U.S. Court of Appeals for the Eleventh Circuit

BAR AND COURT ADMISSIONS
District of Columbia
U.S. District Court for Eastern District of Virginia

IRS Compliance and Governmental

Timothy P. Speiss, MST CPA PFS IARPartner and Chairman, Personal Wealth AdvisorsEisnerAmper LLP

Timothy Speiss is the Partner-in-Charge of the firm’s Personal Wealth Advisors Group and Vice President of EisnerAmper Wealth Planning LLC. He chairs the firm’s Technology Committee and Legislation Monitoring Group, and serves on the firm’s Tax Practice Policy Committee and community service group EisnerAmperCares. Tim has nearly 30 years of experience in providing comprehensive tax planning and related investment, compensation, and financial planning services to senior executives and board members of Fortune 100 publicly held companies, Forbes 400 families, and privately held businesses and owners including celebrities and owners of professional sports teams. Prior to joining EisnerAmper, he was a partner with a Big Four firm and served as Partner-in Charge of their New York Metro and Northeast Area Private Client Advisory Practice.

Tim is a frequent speaker and author on topics of tax and financial planning, executive compensation, charitable giving, and related matters. He has lectured in various university graduate programs and regularly provides commentary on tax and investment and legislative matters to television, radio, and print media. Tim is also the Editor-in-Chief of the periodical EisnerAmper LLP Personal Wealth Advisors Technical Update For Financial Advisors.

Tim was a staff assistant to a former U.S. Congressman and has attended U.S. Treasury hearings on various matters of federal taxation. He is a member of the United States Foreign Policy Association (U.S. FPA), has been cited as an Outstanding New York Businessperson by a U.S. Senate Subcommittee, and is the founder of the Timothy Speiss Endowed Fund For the Promotion of United Nations Responsible Global Business Principles at Widener University. Tim serves on the boards of, and regularly advises, numerous charitable and educational organizations and capital campaign initiatives. His involvement includes the Trustee, Finance and Development Committees of the Harlem Academy; Board Chair (Manhattan) of the Abingdon Theatre Company; Corporate Development Committee of the Alliance for Lupus Research; and Chair of the Bishop McDevitt High School President’s Advisory Board. Tim graduated from Widener University with a B.S. in Business and M.S. in Taxation.


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IRS Compliance and Governmental

Course Level:
   Intermediate

Advance Preparation:
   Print and review course materials

Method Of Presentation:
   On-demand Webcast

Prerequisite:
   NONE

Course Code:
   114157

Total Credits:
    2.0 CLE

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About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

Giller & Calhoun, LLC is a law firm providing legal support to non-profit and governmental employers that are sponsoring retirement and welfare benefit programs , and to the service providers for those plans. The firm’s attorneys have extensive experience in the design and operation of employee retirement and welfare programs, including 403(b), 401(a), 401(k) and 457 plans, retiree health plans, executive deferred compensation arrangements and early retirement programs. We work with our clients to address the tax, ERISA, and insurance regulatory issues raised by these plans, and, where necessary, to help them correct errors in their design or operation. We also have expertise about the financial products used with benefit plans, including annuity contracts, custodial accounts, and life and health insurance policies.

Website: https://gillercalhoun.com/

The law firm of Davis & Harman LLP helps financial institutions, trade associations, insurers, and large corporations find effective solutions to taxation, insurance law and employee benefit challenges. Davis & Harman provides expert counsel and one-stop service regarding health and welfare plan benefits, executive compensation, life insurance products and retirement savings vehicles.

Website: https://www.davis-harman.com/

EisnerAmper is one of the premier accounting, tax and business advisory firms in the United States and the leading regional firm in the Northeast. EisnerAmper provides a wide array of services to a diverse client base including financial institutions, publicly traded and privately held companies and high net worth individuals and family groups.

Website: https://www.amper.com/

Barbara Bovbjerg is the Managing Director for Education, Workforce and Income Security Issues at the U.S. Government Accountability Office. In that capacity, she oversees all GAO’s evaluative work in those subject areas, ranging from elementary and secondary education, through workforce and employment issues, to aging and retirement income policy. Previously Ms. Bovbjerg was the Director for Retirement Income Security, and in that capacity managed studies on Social Security and pension policy and management. Earlier, as Assistant Director for Budget Issues at GAO, she managed a variety of budget policy projects, including studies on the long-term effects of budget deficits. Before joining GAO, she led the citywide analysis unit of the District of Columbia’s Budget Office, and analyzed state and local government finance issues for the Urban Institute.
Ms.Bovbjerg holds a Masters Degree in Public Policy from Cornell University, and a B.A. from Oberlin College.

Carol McClarnon is Of Counsel to Giller & Calhoun, LLP. She has over 20 years of law firm experience providing employee benefits and tax compliance advice to employers and plan service providers. She has extensive experience representing clients in controversies and compliance matters before the Internal Revenue Service and the U.S. Department of Labor.

Carol’s experience covers the full range of retirement plans for both public and private employers, including defined benefit and money purchase pension plans, profit-sharing and 401(k) plans, 403(a) and 403(b) annuity plans, 457(b) and 457(f) plans, non-qualified deferred compensation plans and individual retirement plans. In addition to drafting and reviewing plan documents, she has represented plan sponsors in obtaining voluntary compliance relief, prohibited transaction exemptions and private letter rulings in connection with their plans. Carol also has worked with financial services companies on sophisticated ERISA and tax issues arising in the retirement services and insurance product operations of their businesses, including the legal analysis of cutting edge annuity and retirement plan product development.

Carol graduated cum laude from Indiana University School of Law – Bloomington and was a managing editor of the Indiana Law Journal. She has been active in the American Bar Association, having served as Vice Chair of the Employee Benefits Committee of the Tort and Insurance Practice Section. Carol serves on the Board of Directors of Synergy Nonprofit, Inc., a 501(c)(3) organization supporting global environmental education and cultural preservation. She is admitted to practice law in the District of Columbia.

Michael Hadley is a partner in the law firm Davis & Harman LLP. He practices in the area of employee benefits, advising clients on the full range of tax, ERISA, and other laws affecting benefit plans. He has a particular focus on helping financial institutions that sell products to defined contribution and defined benefit plans, IRAs and 529 plans navigate the special rules that govern those plans. He also provides clients with strategic advice, plan design, counseling, and compliance assistance for qualified plans, 403(b) and 457 plans, non-qualified executive compensation, equity plans, employment agreements, and health and other welfare plans.

Mr. Hadley was Associate Counsel for Pension Regulation at the Investment Company Institute, the national association of U.S. investment companies. His responsibilities included advocating for the Institute’s membership before Congress, the Department of Labor, the Department of the Treasury, and the Securities Exchange Commission on retirement security issues and assisting ICI members and staff in understanding tax and ERISA rules that affect defined contribution plans, IRAs, and similar savings vehicles. Among other duties he managed ICI’s work implementing the Pension Protection Act and responding to 401(k) fee, investment advice, and fiduciary developments in Congress, DOL, and the courts.

Prior to joining ICI, Mr. Hadley was an associate with Covington & Burling LLP, where he advised clients on a broad range of employee benefit plans and executive compensation arrangements, provided expert advice on ERISA litigation, and assisted with pension and benefits issues in mergers, acquisitions, and other corporate transactions.

Mr. Hadley is a frequent speaker on the latest retirement savings policy developments coming out of Congress and the regulatory agencies. He co-authored The Economics of Providing 401(k) Plans: Services, Fees, and Expenses, 2010 ICI Research Perspective, Vol.17, No. 4 (June 2011) (with Sarah Holden and Shaun Lutz) and 401(k) Plans: A 25-Year Retrospective, ICI Research Perspective, Vol. 12, No. 2 (Nov. 2006) (with Sarah Holden and Peter Brady).

Mr. Hadley was a law clerk for the Honorable Gerald Tjoflat, U.S. Court of Appeals for the Eleventh Circuit. He received his J.D. from the University of Virginia, where he was Notes Editor of the Virginia Law Review and elected to the Order of the Coif. He received his B.A., cum laude, from the College of William and Mary.

PRIOR EXPERIENCE
Associate Counsel for Pension Regulation, Investment Company Institute
Associate, Covington & Burling
Law Clerk to Hon. Gerald Tjoflat, U.S. Court of Appeals for the Eleventh Circuit

BAR AND COURT ADMISSIONS
District of Columbia
U.S. District Court for Eastern District of Virginia

Timothy Speiss is the Partner-in-Charge of the firm’s Personal Wealth Advisors Group and Vice President of EisnerAmper Wealth Planning LLC. He chairs the firm’s Technology Committee and Legislation Monitoring Group, and serves on the firm’s Tax Practice Policy Committee and community service group EisnerAmperCares. Tim has nearly 30 years of experience in providing comprehensive tax planning and related investment, compensation, and financial planning services to senior executives and board members of Fortune 100 publicly held companies, Forbes 400 families, and privately held businesses and owners including celebrities and owners of professional sports teams. Prior to joining EisnerAmper, he was a partner with a Big Four firm and served as Partner-in Charge of their New York Metro and Northeast Area Private Client Advisory Practice.

Tim is a frequent speaker and author on topics of tax and financial planning, executive compensation, charitable giving, and related matters. He has lectured in various university graduate programs and regularly provides commentary on tax and investment and legislative matters to television, radio, and print media. Tim is also the Editor-in-Chief of the periodical EisnerAmper LLP Personal Wealth Advisors Technical Update For Financial Advisors.

Tim was a staff assistant to a former U.S. Congressman and has attended U.S. Treasury hearings on various matters of federal taxation. He is a member of the United States Foreign Policy Association (U.S. FPA), has been cited as an Outstanding New York Businessperson by a U.S. Senate Subcommittee, and is the founder of the Timothy Speiss Endowed Fund For the Promotion of United Nations Responsible Global Business Principles at Widener University. Tim serves on the boards of, and regularly advises, numerous charitable and educational organizations and capital campaign initiatives. His involvement includes the Trustee, Finance and Development Committees of the Harlem Academy; Board Chair (Manhattan) of the Abingdon Theatre Company; Corporate Development Committee of the Alliance for Lupus Research; and Chair of the Bishop McDevitt High School President’s Advisory Board. Tim graduated from Widener University with a B.S. in Business and M.S. in Taxation.

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