Pooled Employer Plans: New DOL Final Rules | CLE Course

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Course Details

Course Information

smart_display Format
On-Demand
signal_cellular_alt Difficulty Level
work Practice Area
ERISA

Date & Time

event Date
Wednesday, February 10, 2021
schedule Time
1:00 p.m. ET./10:00 a.m. PT
timer Program Length
90 minutes

Credit Information

This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00

CLE

ALL

This CLE course will provide ERISA counsel, plan sponsors, and administrators guidance on structuring pooled employer plans (PEPs) and recent Department of Labor (DOL) final regulations for registration and other rules for PEPs. The panel will discuss key provisions in the final regulations and their impact on small and mid-size employers; factors in determining which bonafide groups, associations, or other organizations can sponsor PEPs; practical methods in avoiding PEP compliance pitfalls; and navigating ERISA and IRS rules and limitations.

Faculty

David N. Levine

Principal

Groom Law Group Chtd - Washington

Mr. Levine advises plan sponsors, advisors, and other service providers on a wide range of employee benefits matters, from retirement and executive compensation to health and welfare plan matters. He advises on the design and redesign of complex retirement, executive, and health and welfare plans; ongoing, day-to-day counseling of plan sponsors; in-depth compliance reviews of corporate and governmental benefit programs; products and compliance for retirement and health service providers, and representation of tax-exempt organizations with respect to issues involving corporate governance, executive compensation, and unrelated business income tax liability.

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Michael P. Kreps

Principal

Groom Law Group Chtd - Washington

Mr. Kreps counsels employers, plan sponsors, financial institutions, trade associations, and coalitions on retirement, health, tax, and employment matters. He specializes in issues relating to public policy, fiduciary responsibility, and plan funding and restructuring. Previously, Mr. Kreps served as the Senior Pensions and Employment Counsel for the U.S. Senate Committee on Health, Education, Labor and Pensions. Mr. Kreps is a frequent speaker and writer on retirement and health policy.

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Description

The SECURE Act created a new type of collective retirement plan known as a PEP which allows unaffiliated employers to come together under a single plan without being subject to the limitations of multiple employer plans (MEPs). Employee benefits counsel and plan sponsors structuring or getting involved with PEPs must understand the requirements and nuances under recently issued DOL final rules.

In the past, maintaining MEPs created a variety of issues such as legal exposure, high costs, and administrative complexity for employers. As of Jan. 1, 2021, employers will have the option of utilizing PEPs. PEPs can provide lower plan fees and expenses, simplified administration, and the shifting of fiduciary risk to the PEP provider.

A PEP may be either a qualified defined contribution plan or consist of individual retirement accounts. These plans must be maintained by a pooled plan provider (PPP), which may be a participating employer or an unrelated entity, subject to certain registration and reporting requirements. On Nov. 13, 2020, the DOL issued final rules detailing the process to register to become a PPP, relief for filing errors, and additional guidance for PEPs.

Listen as our panel discusses key provisions in the final regulations, factors in determining who can sponsor PEPs, practical methods in avoiding compliance pitfalls, and navigating ERISA and IRS rules and limitations.