Continuation of Session 27 focusing on the testing of eligibility, participant data and contributions for the fundamentals track case study, including discussion of common errors found in these areas.

• Identify the various contribution types that are typical in a defined contribution plan, review the annual limits, and understand the participant and employer contributions based on the fundamental track case study's plan provisions, considering eligibility and eligible compensation for each type of contribution.
• Recall the risk assessment of relevant assertions and the planned audit procedures of the case study.
• Select sampling and testing procedures utilizing examples from the case study for payroll, definition of compensation, participant eligibility, participant data, contributions, and the timely remittance of contributions.
• Recognize common errors found in testing of contributions, eligibility and participant data.

It's not uncommon for employee benefit plan auditors to find errors in the application of a plan’s definition of compensation. However, truly understanding a plan’s definition of compensation is not always straight forward. This session will explore different definitions of compensation that are commonly used by plans, as well as some of the nuances that can make understanding the definition of compensation more challenging.

• Recognize various definitions of compensation that are commonly used in plan documents.
• Identify common errors found when applying a plan's defintion of compensation to how compensation is calculated.

In this session, attendees will enhance their basic competency of compliance testing issues by covering: controlled group rules, coverage testing, single employers and controlled group rules, Section 401(a)(4) nondiscrimination testing, Section 414(s) compensation testing considerations, and top heavy and 401(k) plan issues.

• Compare the interaction between controlled group testing and the various nondiscrimination rules.
• Analyze whether a set of facts is likely to have testing issues.

This session is intended to provide an update on key legal developments over the last year including legislation, agency guidance, and relevant court cases surrounding significant employee benefit plan issues.

• Describe the key legal developments over the past year that may impact your or your clients’ employee benefit plans.
• Identify and monitor certain areas of employee benefits law were there may be additional legal developments at some point in the near future.

Officers and directors are not always aware of their responsibility for information and oversight. This session will provide information to those who are responsible for their employer’s retirement plan or who want to know the details for the oversight responsibilities. The session will include: information to the plan auditor, hiring a plan auditor, hiring the service providers, fidelity bond and fiduciary insurance coverage along with best practices for Administrative or Investment Committees – including the Request For Proposal process.

• Evaluate your responsibilities as an officer and/or director to ensure you're aware of all responsiblities, such as hiring and overseeing the plan audit.
• Categorize service providers and assess which attributes each provider contributes to your plan.
• Reconstruct proper, thorough committee documentation of actions taken.

There are over five generations in the workforce. How many are in your firm or company? If there are more than one, you should attend this session! Professional development is key to one's success. Training, whether informal or formal, is included in that. Be the valuable employer your staff believes you are and come to this session to learn the latest and most innovative ways to train your multi-generational staff.

• Recognize staff training needs to make you a valuable employer.
• Recall latest training trends and techniques for your multi-generational staff.
• Identify innovative learning solutions and current initiatives in the learning industry.

Provide best practices regarding the planning and management of benefit plans audit engagements, from a Plan Sponsor perspective.

• Understand the importance of strong planning and preparation for a successful "smooth" audit.
• An open honest plans sponsor/auditor communication is key to enable trust on both sides.
• Help the Auditor understand your plans. It will help/facilitate the auditors work and reduce recycle and unnecessary efforts.
• The Audit is not only a legal requirement it's a plan sponsor extraordinary external review that helps ensure regulatory compliance.

This session will discuss various investments that are commonly held by employee benefit plans including investment contracts and stable value products. The session will also cover relevant valuation and classification concepts.

• Identify common investments held by employee benefit plans.
• Analyze stable value products, including design, valuation, and operation.
• Distinguish reporting of common insurance company products compared to other investments.
• Recognize unique considerations needed for these investments.

This course will provide an introductory discussion about the basic parameters relating to how common IRS/DOL errors can be corrected under the IRS Employee Plans Compliance Resolution System (EPCRS) and the DOL Voluntary Fiduciary Correction Program (VFCP). This course will include comments on the recently released EPCRS Program.

• Identifying common plan administrative and similar errors.
• Recognize appropriate and compliant correction methods for respective errors.

Common research shows many individuals wait too long to start tax and retirement planning. This can cause one to work longer or unexpected stress as one nears retirement. Be proactive and get started now! It’s never truly too soon. The session will cover topics such as IRAs and what is the right IRA for you, social security 101, estate planning, and navigating your current retirement plan.

• Recall retirement planning considerations for all generations and the importance of beneficiary selections.
• Recognize important aspects of your retirement plan and select the appropriate IRA that matches your retirement goals.
• Distinguish between a Roth or a Roth Conversion.
• Identify key ages when discussing retirement goals.