401(k) Plan Nondiscrimination Testing and Compliance: Guidance for Employee Benefits Counsel and Plan Sponsors
Impact of SECURE 2.0, IRS Requirements, Avoiding Corrective Distributions, Safe Harbor Plans, Multiemployer Plan Complexities
Note: CPE credit is not offered on this program
A live 90-minute premium CLE video webinar with interactive Q&A
This CLE webinar will provide employee benefits attorneys, plan sponsors, and administrators with detailed guidance on performing nondiscrimination testing and compliance for 401(k) plans. The panel will review the minimum coverage, evaluate ADP and ACP tests for ensuring compliance with IRS nondiscrimination requirements, explain the benefits and costs of adopting a safe harbor plan design, assess the impact of SECURE 2.0, and outline the complex legal issues involved in multi-employer plans.
Outline
- Nondiscrimination rules under Section 401
- Nondiscrimination testing
- Minimum coverage test
- Actual deferral percentage (ADP) test for HCEs
- Actual contribution percentage (ACP) test for HCEs
- Cross testing
- Benefits, rights, and features
- Impact of SECURE 2.0
- Safe harbor plan designs: risks and opportunities
- Multiemployer plan issues
- Corrective action for noncompliant plans
Benefits
The panel will review these and other key issues:
- How can plan sponsors maximize benefits for HCEs without violating the nondiscrimination rules?
- What advantages does a cross-tested safe harbor plan offer?
- What special rules and considerations apply to multiemployer plans?
- What is the impact of SECURE 2.0?
Faculty
Bonita Hatchett-Bodle
Partner
Hall Benefits Law
Ms. Hatchett-Bodle has decades of experience serving as outside ERISA and benefits counsel to national corporations,... | Read More
Ms. Hatchett-Bodle has decades of experience serving as outside ERISA and benefits counsel to national corporations, public sector entities, growth and middle-market companies, jointly trusteed funds, as well as entrepreneurs in every major industry group. These include a national retailer, technology companies, insurers, associations, educational institutions, philanthropic organizations, and individuals. Ms. Hatchett-Bodle served as the Qualified Plans Vice Chair of the American Bar Association Section of Real Property, Trust, and Estate Law, and she is licensed in Texas and Illinois.
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Lori L. Shannon
Partner
Barnes & Thornburg
Ms. Shannon counsels private and public companies and tax-exempt entities on the design and implementation of... | Read More
Ms. Shannon counsels private and public companies and tax-exempt entities on the design and implementation of employee benefit and executive compensation plans and arrangements. She advises clients in regard to tax-qualified retirement plans, 403(b) plans, health and welfare benefit plans, nonqualified deferred compensation plans and equity-based incentive plans. Ms. Shannon assists clients, many in the professional services arena, with the design and drafting of executive and physician employment agreements, as well as severance, retention and change in control agreements.
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