Implementation and Adoption Issues of IRS Hybrid Pension Plans in 2015
In September 2014, the Internal Revenue Service (IRS) published final regulations with updates proposed in 2010 and newly proposed regulations. Some aspects of the regulations affect multi-employer pension plan trustees and provide relief for hybrid pension plans. The regulations focus primarily upon cash balance, hipsaw relief, and pension equity plans. However, the guidance includes provisions for variable annuity pension plans (VAPPs) which many trustees believe are of enormous value in the defined benefit system.
In this two-hour LIVE webcast, a panel of distinguished professionals and thought leaders, assembled by The Knowledge Group, will help attendees understand the important aspects of Implementation and Adoption of the IRS Hybrid Pension Plans in 2015. Speakers will also offer best practices in ensuring compliance.
Some of the major topics that will be covered in this course are:
- Final Regulations on Hybrid Pension Plans
- Final Rule Requirements
- Changes in the Hybrid Retirement Plan Rule
- Implementation and Adoption Issues
- Pension Equity Plans
- Risk Management and Compliance Strategies
- Potential Lawsuits
Michael B. Stuber, Director,Pension Operations
- Basic Qualified Pension Plans
- Defined Contributions Plans: It’s all about the balance
- Defined Benefit Plans: It’s all about future benefits
- Hybrid Plans: A DB Plan that stresses the balance
- Hybrid Plans: Funding options
- Hybrid Plans: Paired with Profit Sharing
Patricia L. Beaty, Shareholder
- Non-Discrimination rules
- The boundaries of your employer/employee group
- The Highly Compensated Employees
- Some Flexibility in the definitions
- Good Candidates
- 3-5 year minimum commitment
- Employee groups are critical
- The Down Side
- Inappropriate Candidates
- Meeting the 5% investment return goal
- Pre-Funding seems like a great idea until . . .
- Lack of communication between Employer/Plan Sponsor and consultants
Darlene Finzer, Director of Benefit Plan Audit Services
Rea & Associates, Inc.
- Proposed Hybrid Regulations
- Unresolved Issues
- Pros/Cons of Hybrid Plans
Who Should Attend:
- Benefits Managers
- Employment Law Attorneys
- In-house Counsel
- Employee Benefits & Compensation Lawyers and Consultants
- Retirement Plan Financial Professionals
- Retirement Plan Practicing Lawyers
- Retirement Plan Sponsors
- Tax Compliance Officers
Patricia Beaty concentrates her practice in the area of employee benefits and executive compensation. She has experience in the design, implementation and administration of single employer and multiemployer defined benefit plans as well as money purchase, profit sharing, stock bonus, employee stock ownership, performance plans, non-qualified deferred compensation plans, 401(k) and 403(b) plans, Section 125 “cafeteria” plans and Voluntary Employees’ Beneficiary Association trusts (VEBAs). Ms. Beaty also has experience in auditing plans for compliance failures and represents the firm’s clients before the Internal Revenue Service and the Department of Labor on a variety of issues, including audits by both agencies and correction of operational failures under the Internal Revenue Service Employee Plans Compliance Resolution System and fiduciary issues under the Department of Labor’s Voluntary Fiduciary Correction Program. Her further experience involves working with clients on issues relating to fiduciary compliance under the Employee Retirement Income Security Act of 1974 (ERISA), QDROs, COBRA, HIPAA, new comparability or “cross tested” plans, cash balance plans and recent legislation affecting all aspects of employee benefits.
Patricia Beaty concentrates her practice in the area of employee benefits and executive compensation. She has experience in the design, …
For more than 20 years, Darlene Finzer, CPA, QKA, CSA, has provided plan sponsors and outside service providers with the tools and education they need to drive successful benefit plan efforts as a principal and director of the employee benefit plan audit practice at Rea & Associates, a regional accounting and business consulting firm. Considered by many to be a thought leader in plan audit requirements and services, retirement readiness, fiduciary responsibility and retirement plan compliance, Darlene has been recognized for her work by Kent State University, her alma mater, as a Distinguished Alumni and has been featured by Accounting Today as the publication’s inagural “Accountant of the Month.” A seasoned presenter and author, Darlene regularly writes articles published on Rea’s website and blog. More information about Darlene can be found at www.reacpa.com/darlene-finzer.
For more than 20 years, Darlene Finzer, CPA, QKA, CSA, has provided plan sponsors and outside service providers with the …
With over 25 years’ experience in pension consulting, Michael leads a team of credentialed retirement plan specialists who design, install, and manage 401(k), profit sharing, and defined benefits plans for businesses of all sizes. Michael is the past chairman of the National Institute of Pension Administrators (NIPA) Business Management Conference. As an Enrolled Retirement Plan Agent (ERPA), Michael’s specialty is rehabilitating and re-qualifying crashed and broken plans, turning them into supercharged employee benefits programs.
With over 25 years’ experience in pension consulting, Michael leads a team of credentialed retirement plan specialists who design, install, …
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About Ogletree Deakins
Ogletree Deakins is one of the largest labor and employment law firms representing management in all types of employment-related legal matters. The firm has more than 700 lawyers located in 47 offices across the United States, in Europe, and in Mexico. Ogletree Deakins has been named a Law Firm of the Year four consecutive years by U.S. News – Best Lawyers® “Best Law Firms.” In 2015, the publication named Ogletree Deakins its “Law Firm of the Year” in the Labor Law - Management category. In addition to handling labor and employment law matters, the firm has thriving practices focused on business immigration, employee benefits, and workplace safety and health law. Ogletree Deakins represents a diverse range of clients, from small businesses to Fortune.
About Rea & Associates, Inc.
Since 1938, Rea & Associates, a regional accounting and business consulting firm, has served thousands of businesses and individuals throughout Ohio. Consisting of more than 200 bright professionals in 11 offices across the state, Rea & Associates is the go-to resource for businesses in the construction, government, healthcare, manufacturing, oil & gas and not-for-profit industries – as well as family businesses – by providing them with innovative accounting, audit, tax and consulting solutions. For more information about Rea & Associates, visit www.reacpa.com.
About Primark Benefits
Primark Benefits works with companies of all sizes; major corporations, small businesses and self-employed professionals, and we have since 1971. We convert tax dollars into retirement benefits by creatively designing, installing, and operating 401(k), profit sharing, and defined benefit pension plans. Most of our business comes as referrals from attorneys, accountants and other professional advisors who value the work we do for their clients. We provide our clients with complete design, implementation, administration, compliance and consulting services for their employee benefit and retirement plans. We demystify retirement benefits.