401(k) Plan Duties And Liability Update: What You Need to Know and Do

Webinar: ID# 1014023
Recorded CD
About This Course:
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
  • 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
Jeffrey D. Zimon Esq.
  • 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
401(k) Plan Duties And Liability Update: What You Need to Know and Do
Available on CD format
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