Terminating 403(b) Plans: IRS Rules, Fiduciary Liability, Distribution of Assets, Required Notices to Participants
Note: CPE credit is not offered on this program
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will guide ERISA counsel and fiduciaries on the complex rules and pitfalls to avoid terminating a 403(b) plan. The panel will discuss ERISA rules and requirements for plan terminations, recent IRS Revenue Ruling 2020-23 and Notice 2020-80, distributions upon termination, annuity and consent rules, and other critical items.
- Legal implications and risk when terminating 403(b) plans
- Recent IRS guidance
- Rev. Rul. 2020-23
- IRS Notice 2020-80
- Annuity and consent rules
- Distributions upon the termination of 403(b) plan
- Administrative pitfalls and liability
The panel will review these and other key issues:
- What are the legal implications and other risks when terminating 403(b) plans?
- What are the key provisions of IRS Notice 2020-80 and Rev. Rul. 2020-23?
- What are the annuity and consent rules and potential challenges?
- How can you ensure compliance and avoid administrative issues for distributions upon 403(b) plan termination?
- What are the other administrative challenges to avoid potential liability?
David N. Levine
Groom Law Group
Mr. Levine advises plan sponsors, advisors, and other service providers on a wide range of employee benefits matters,... | Read More
Mr. Levine advises plan sponsors, advisors, and other service providers on a wide range of employee benefits matters, from retirement and executive compensation to health and welfare plan matters. He advises on the design and redesign of complex retirement, executive, and health and welfare plans; ongoing, day-to-day counseling of plan sponsors; in-depth compliance reviews of corporate and governmental benefit programs; products and compliance for retirement and health service providers, and representation of tax-exempt organizations with respect to issues involving corporate governance, executive compensation, and unrelated business income tax liability.Close
Sarah Mysiewicz Gill
Groom Law Group
Ms. Mysiewicz Gill advises clients on issues relating to taxation and employee benefits in both the public and private... | Read More
Ms. Mysiewicz Gill advises clients on issues relating to taxation and employee benefits in both the public and private sector.Close