Structuring Retirement Plan Internal Controls Amid Heightened IRS and DOL Scrutiny
Avoiding Violations with Plan Amendments, Target Date Funds, Investment Manager Agreements, Discrimination Testing and More
Recording of a 90-minute premium CLE/CPE webinar with Q&A
This CLE course will provide ERISA counsel and advisors with the tools necessary to structure internal controls that mitigate expanded IRS and DOL audits. Our experienced panelists will provide best practices to avoid violations with plan amendments, target date funds, discrimination testing and more.
Outline
- Overview of internal controls
-
IRS audits
- Definition of Compensation
- Plan amendments
- Eligibility
- Loans
- In-service distributions
- Suspension of benefits
- ADP/ACP Testing
-
DOL audits
- Target date funds
- Consultant/investment manager agreements
- Float
- Revenue sharing/12b-1 fees
Benefits
The panel will answer the following questions:
- How must plan sponsors implement internal control processes for tax-qualified retirement plans?
- What substantive areas are of concern to the IRS and DOL?
- What specific processes should be in place to minimize violations in IRS and DOL areas of concern?
- What should plan sponsors consider when reviewing investment manager agreements and revenue sharing arrangements?
Faculty
Mary Andersen
President
ERISAdiagnostics
Ms. Andersen, CEBS, ERPA, QPA, has worked in benefits consulting and administration over 25 years. Her experience... | Read More
Ms. Andersen, CEBS, ERPA, QPA, has worked in benefits consulting and administration over 25 years. Her experience spans both corporate and consulting, having worked at small and large corporations directly and in a consulting capacity with many Fortune 500 organizations. Ms. Andersen spent 12 years at Coopers & Lybrand, now known as PriceWaterhouseCoopers, where she was jointly responsible for developing and building a national compliance review practice.
CloseNancy S. Gerrie
Partner
McDermott Will & Emery
Ms. Gerrie works with corporations, partnerships, LLCs and tax-exempt entities on a variety of retirement plan and... | Read More
Ms. Gerrie works with corporations, partnerships, LLCs and tax-exempt entities on a variety of retirement plan and other employee benefit plan matters, including the design, amendment, administration and termination of pension, profit sharing, 401(k), employee stock ownership, and welfare and benefit plans. She often represents clients before the IRS, Pension Benefit Guaranty Corp. and DOL. Ms. Gerrie is a frequent speaker and author on a variety of employee benefit topics.
CloseJeffrey M. Holdvogt
Partner
McDermott Will & Emery
Mr. Holdvogt advises clients regarding a variety of employee benefits matters. His practice focuses primarily on the... | Read More
Mr. Holdvogt advises clients regarding a variety of employee benefits matters. His practice focuses primarily on the design, amendment and administration of pension plans, 401(k)’s, and nonqualified deferred compensation arrangements. Mr. Holdvogt has assisted clients with internal compliance reviews and with voluntary correction filings for fiduciary violations and plan document and administrative errors, and routinely represents clients in negotiations before the IRS, DOL and the Pension Benefit Guaranty Corp.
CloseHoward Pianko
Partner
Seyfarth Shaw
Mr. Pianko advises on the full gamut of matters relating to employee benefits, including pension and welfare benefit... | Read More
Mr. Pianko advises on the full gamut of matters relating to employee benefits, including pension and welfare benefit plan compliance, drafting and administration; equity and executive compensation; benefit aspects of corporate transactions; plan investments; plan governance and fiduciary responsibilities; and benefit related litigation. He is a frequent lecturer with a special focus on topics involving executive comp, fiduciary and plan governance, and cross-border transactions.
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