This session will provide an overview of key changes in the audit and reporting when a plan sponsor of a retirement plan concludes the plan’s termination is imminent. This session will also cover reporting under the liquidation basis of accounting.

• Evaluate plan sponsor’s conclusion that termination is imminent.
• Assess risk factors associated with terminating plan.
• Formulate reporting under the liquidation basis of accounting.

Many of the 20,000 organizations with private sector defined benefit (DB) plans do not understand the full cost they are incurring to maintain these plans. As fiduciaries, CFOs who sponsor DB plans are responsible for ensuring both direct and indirect costs incurred by the plan are reasonable. Auditors may just be looking at the direct costs that are easily observable and simply comparing them to past years for reasonableness. DB plan sponsors need their accountants and auditors to also bring these indirect costs to their attention and help to determine if they are reasonable by comparing both direct and indirect costs to the market. From and organization perspective, executives should be asking if continuing these costs are consistent with their objective to maximize organization value. This session will provide you tools to identify and measure those costs and give you solutions to help your organization or client reduce or eliminate those costs and risks.

• Identify and measure the direct and indirect costs related to maintaining a DB plan.
• Recall available solutions to help your organization or client reduce or eliminate those costs and risks.

There will be a tremendous amount of information covered in the fundamental track sessions, and we are sure there will be questions that may not get answered during the sessions, or topics that just a need a little bit more explanation. This is your chance to ask about any of the topics covered in the fundamental track sessions – by a panel of the instructors that led these sessions. Come prepared with all of your, or “your friend’s”, questions for our case study leaders.

• Recall answers to outstanding questions in areas of an EBP audit.
• Indicate your clarification or dig deeper on items discussed during the Fundamental Track sessions.

Owning a privately-held business can be tricky. Be aware of these common “traps” and differences in C-corps, S-Corps, LLCs, sole proprietorships, and partnerships by attending this session. Questions about owner compensation, owner contributions, employment status, affiliated service groups, controlling interests, and benefits will be answered. Find out what happens if your plan become top heavy and how you can best monitor, as a plan sponsor, if your plan needs an audit.

• Recall how owners are compensation and if a partner can be an employee.
• Recognize reasonable compensation for an owner.
• Indicate how and where contributions are declared and how these groups impact benefits, testing, and compliance.
• Recall the definition of an affiliated service group and controlled group.