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  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel ERISA
  • schedule 90 minutes

403(b) and 457(b) Plan Compliance Challenges: SECURE 2.0, Requirements, Limits, Plan Design and Administration

$347.00

This course is $0 with these passes:

CLE
ALL
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Description

Sections 403(b) and 457(b) plan compliance present significant challenges for employee benefits counsel and plan administrators. Sponsors of 403(b) and 457(b) plans must consider the impact of recent regulatory and litigation developments to ensure strict compliance to avoid potential DOL and IRS attention and participant litigation.

Litigation against sponsors of 403(b) plans stemming from fiduciary duties related to excessive fees and administrative expenses is occurring with greater frequency over the last few years. The administration of 403(b) plans requires detailed knowledge of hardship distribution rules, the universal availability rule, and regulatory guidance to avoid compliance issues.

For 457(b) plans, employers must understand the complex rules relating to contributions and distributions, maintaining exempt status under ERISA.

Employee benefits counsel must have a complete understanding of these complex rules to properly advise plan sponsors and administrators in the design and implementation of 403(b) and 457(b) plans.

In addition, counsel must understand the impact of SECURE 2.0 as applied to 403(b) and 457(b) plans such as the elimination of the "First Day of the Month Rule" for certain 457(b) plans, extension of long-term part-time employee rules to 403(b) plans, and other key provisions.

Listen as Jeffries M. Hamilton, Attorney at Frost Brown Todd, discusses key compliance challenges in the design and administration of 403(b) and 457(b) plans and offers an in-depth analysis of complex rules and methods to avoid compliance traps.

Presented By

Jeffries M. Hamilton
Attorney
Frost Brown Todd

Mr. Hamilton concentrates his practice in the area of employee benefits law. He has over 20 years of experience navigating the complexities of ERISA and the Internal Revenue Code, including drafting plan documents, amendments, summaries and notices, reviewing agreements and contracts with third party administrators and vendors, and performing employee benefit due diligence for mergers and acquisitions. Mr. Hamilton has represented clients under audit by the Internal Revenue Service and the Department of Labor and has completed numerous retirement plan corrections. He has obtained funding waivers for defined benefit pension plans and helped clients respond to reportable event inquiries from the Pension Benefit Guaranty Corporation. Mr. Hamilton has advised clients on issues related to multi-employer union pension plans, including plan audits and withdrawal liability. He has a special focus on employee benefits for tax exempt and nonprofit employers such as hospitals, schools, churches and church-related organizations, and other charitable organizations. Mr. Hamilton has in-depth, practical experience dealing with the rules and requirements that apply to Code § 403(b) and 457 plans sponsored by tax-exempt employers.

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Credit Information

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


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, April 16, 2024

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. Overcoming compliance issues of 403(b) plans
  2. Avoiding compliance traps in 457(b) plans
  3. Impact of SECURE 2.0
  4. Key considerations for plan modifications in light of recent developments

The panelist will review these and other key issues:

  • Key compliance issues of 403(b) and 457(b) plans
  • SECURE 2.0 and other regulations impacting plan design and administration
  • Universal availability rule traps and methods to avoid them
  • Plan modifications to consider in light of recent developments