401(k) Plan Challenges for Small Businesses: ERISA Compliance, Impact of SECURE 2.0, Fiduciary Obligations, and More
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE webinar will provide plan sponsors and employee benefits counsel with a detailed analysis of the legal requirements, risks, and challenges with establishing 401(k) plans for small businesses. The panel will discuss applicable rules and regulations for 401(k) plan structures and operations, compliance and reporting requirements, the impact of SECURE 2.0, fiduciary obligations and avoiding litigation, plan participants and contributions, vesting, plan investments, litigation trends, and other key items.
Outline
- 401(k) plan overview: small business challenges
- Establishing and designing a 401(k) plan
- Managing ongoing administration challenges and ensuring compliance
- Selecting and monitoring service providers and investment options
- Correcting errors in design and operation
- Fiduciary responsibilities and risks; cybersecurity issues
- Prohibited transactions and exemptions
Benefits
Attending this discussion will provide small businesses and counsel with insights on how to:
- Design a 401(k) plan that’s low cost, easy to administer, and viewed by employees as a meaningful benefit
- Properly establish and regularly update 401(k) plans
- Reduce fiduciary risk (business and personal risk)
- Avoid becoming ensnared in prohibited transactions and minimize associated costs
- Navigate administrative challenges and ensure compliance
- Improve services received and reduce costs for plans and sponsors
Faculty
William J. Marx
Attorney
Morgan, Lewis & Bockius
Mr. Marx helps employee benefit plan sponsors and financial service providers with a range of matters related to... | Read More
Mr. Marx helps employee benefit plan sponsors and financial service providers with a range of matters related to employee benefits. His focus includes advising clients on qualified and nonqualified retirement plan issues, and the fiduciary and prohibited transaction rules under ERISA. Mr. Marx has several years of business experience in the retirement plan industry, including consulting plan sponsors on plan design, employee education, and investments among other business decisions.
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Rebecca L. Sczepanski
Counsel
HunterMaclean
Ms. Sczepanski practices in the areas of ERISA and employee benefits, focusing on all aspects of employee benefits... | Read More
Ms. Sczepanski practices in the areas of ERISA and employee benefits, focusing on all aspects of employee benefits taxation and fiduciary issues. She has assisted a wide variety of clients in establishing and administering employee benefit plans, IRS and DOL audits, and reviewing and negotiating plan documentation and service provider agreements, as well as employee disputes, claim resolution, collective bargaining benefit issues, fiduciary aspects of selecting and monitoring 401(k) and 403(b) plan investment options and fees.
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