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

SECURE 2.0 and Pension-Linked Emergency Savings Accounts: New DOL and IRS Guidance, Fees, Limitations, Reporting

$347.00

This course is $0 with these passes:

BarbriPdBannerMessage

Description

The SECURE Act 2.0 created PLESAs, which is a special retirement plan feature providing a flexible savings opportunity for eligible non-highly compensated employees. The requirements for these accounts under the SECURE Act must be carefully examined by counsel and plan sponsors to determine whether or not to amend their defined contribution plans to make PLESAs available.

PLESAs are short-term savings accounts within a defined contribution plan, such as a 401(k) or 403(b) plan. These accounts allow eligible non-highly compensated employees to make Roth (after-tax) contributions up to a specified amount that can be withdrawn at any time at their discretion without early distribution penalties or satisfying other requirements. This is a significant feature aimed at assisting non-highly compensated employees, subject to certain requirements and limitations under the SECURE Act 2.0.

Recently, the DOL and IRS issued guidance providing clarification on (1.) eligibility and participation; (2.) contributions, withdrawals, and distributions; (3.) investment requirements; (4.) reporting and disclosure requirements; and (5.) application of IRS anti-abuse rules. ERISA attorneys, plan sponsors, and employers must recognize the impact of PLESAs on defined contribution plan design, implementation, and administration and prepare for IRS and DOL interpretations and requirements.

Listen as our panel discusses including PLESAs within defined contribution plans, key provisions and requirements under SECURE 2.0, and best practices for ERISA compliance for plan sponsors and employers.

Presented By

Philip J. Koehler
Partner
Best Best & Krieger LLP

Mr. Koehler brings more than 30 years of tax and employee benefits plans legal experience to his Business practice group clients. His focus is on providing guidance to clients regarding their obligations under ERISA, Internal Revenue Code (IRC), the Affordable Care Act (ACA), COBRA, state and federal tax and securities laws and other relevant regulations. Mr. Koehler has considerable experience helping clients manage their qualified and nonqualified plans, equity-based compensation and welfare benefit plan compliance, and managing employee benefits plans affected by mergers, acquisitions and plan sponsor bankruptcies. In addition to his legal practice, Mr. Koehler spent 10 years as an adjunct professor in the LL.M. taxation program at Chapman University’s Dale E. Fowler School of Law. He is also a certified employee benefits specialist (CEBS), certified pension consultant (CPC) and compensation management specialist (CMS).

Martha Mohs
Shareholder
Reinhart Boerner Van Deuren S.C.

Ms. Mohs is a shareholder in the firm’s Employee Benefits Practice. She counsels Taft-Hartley, corporate and government clients in navigating the complex regulations and moving targets often associated with managing qualified retirement plans. Ms. Mohs assists her clients in all areas impacting qualified retirement plans, including plan design and strategy, plan investments, prohibited transactions, service provider arrangements, mergers and acquisitions, and benefit claims. She also collaborates with plan sponsors and fiduciaries to provide counsel during audits by regulatory agencies, ensure ongoing compliance with federal law including ERISA and the Internal Revenue Code, and provide guidance regarding corporate governance issues, fiduciary risk management and fiduciary compliance.

Jason A. Rothman
Partner
Calfee, Halter & Griswold, LLP

Mr. Rothman advises publicly traded companies, closely held businesses and nonprofit organizations on all aspects of qualified and nonqualified employee benefit plans, executive compensation plans, health and welfare plans, employment agreements and other related legal and compliance issues. He advises clients on their tax-qualified plans including plan design and adoption, ERISA compliance, day-to-day plan operation, fiduciary compliance, IRS and DOL plan audits and submissions under the Employee Plans Compliance Resolution System, the Voluntary Fiduciary Correction Program, and the Delinquent Filer Voluntary Compliance Program. In addition, Mr. Rothman advises employers on their welfare benefit plan compliance issues. This includes counseling employers on the Affordable Care Act, COBRA, HIPAA, ERISA, and wellness plan design.

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


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, August 27, 2024

  • schedule

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

  1. Overview of PLESAs under SECURE Act 2.0
  2. Plan design and implementation considerations
  3. Administration and compliance challenges
  4. Other key items and best practices for counsel and plan sponsors

The panel will review these and other vital matters:

  • What should plan sponsors and employers know about PLESAs under SECURE 2.0?
  • What are the key requirements, limitations, and potential challenges when including PLESAs as part of a defined contribution plan?
  • What are the risks and potential pitfalls?
  • What are the key considerations, best practices, and next steps for counsel?