401(k) Plan Duties And Liability Update: What You Need to Know and Do
|Date / Time:
Increasing investigations and penalties by the U.S. Department of Labor and Internal Revenue Service, massive class action lawsuits - an ever-expanding list of factors bombards sponsors of 401(k) plans, and places companies and their management potentially in the cross hairs. The most rapidly evolving yet least understood element to this challenge is posed by the rigorous ERISA fiduciary laws - which can cost you plenty if you're not prepared.
The live webinar will provide a best practices review and overview of ERISA fiduciary concepts that impact the way your 401(k) plan is currently structured and operated, with a focus on fees and expenses, and what you need to do now, to stay ahead of the curve.
You will learn about the issues facing 401(k) sponsors and everyone involved in a clear, easy-to-understand format to permit sponsors and plan officials and fiduciaries to better provide these benefits, preserve and protect the company, and avoid potential exposure, which can be personal liability.
We will cover the basics of the federal law's rules in easy-to-grasp language and practice applying those rules by examining actual and hypothetical cases.
Covered Topics Include:
- Fiduciary Duties and Responsibilities in a Participant-Directed Environment
- Fiduciary Responsibility
- Plan Sponsor Duties
- Reasonable Costs and Expenses – ERISA 408(b)(2) Regulations
- Revealing the True Cost of the 401(k) – Unbundling Fees and Expenses and Your Responsibilities and Obligations
- Identifying the Plan Service Providers
- Understanding the Fee Structures of the Service Providers
- Revenue Sharing Components Defined
- Impact of Lowering Indirect Plan Costs
- Got My Disclosure – Now What?
- How to Measure Value for Fees by Service Provider
- Current Governmental Initiatives, Including U.S. Department of Labor, Internal Revenue Service – Guidance, Positions, Audits and Focus
- Best Practices and Practical Considerations to Comply, Reduce Exposure and Help Participants
- Creating a Process for Reviewing and Benchmarking Service Providers
- Impact of Lowering Expenses and the Use of Low Cost Index Funds
Mario C. Giganti CPA, CFP
Jeffrey D. Zimon Esq.
- Senior advisor and principal of Cornerstone Capital Advisors, a registered investment advisory firm
- Faculty member for fi360 in Pittsburgh, recognized leader in fiduciary best practices
- CEFEX registered analyst for Fiduciary Best Practice Audits
- B.A. degree in accounting, Walsh University
- Founder and CEO, Zimon LLC, a boutique employee benefits and compensation firm
- Worked with employee benefit plans and plan fiduciaries for more than 20 years
- Experience in all areas of employee benefit plan matters, including strategic design, consulting and successful litigation of fiduciary and benefit claims cases
- J.D. degree, Case Western Reserve University; A.B degree, Brandeis University
Cannot Attend The Live Presentation?
This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.
|About Webcasts / Audio Conferences / Podcasts:|
Webcasts, audio conferences, and podcasts are presentations that you
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versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without
any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back
at work immediately after the session ends!
And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous
times and to share it with others in your office.
Handout materials and the phone number for live presentations are made available to you prior to the event via email from the
presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.
|About The Provider:
||Lorman Education Services has provided educational seminars and online training for professionals since 1987.
Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.
That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.
Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
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