Working with distressed plans has always been a part of an EBP professional’s practice. Since March, however, the pandemic and related economic disruption have caused it to be a much larger piece of that practice. During this session, we will discuss the questions that frequently arise when dealing with distressed plans such as issues in plan terminations, what happens when a company goes through bankruptcy, dealing with underfunded defined benefit plans, how to change a matching contribution mid-year, pitfalls of discontinuing a safe harbor contribution, etc. Additionally, we will discuss alternatives available to plan sponsors in these stressful economic times to save cash and increase liquidity.

Session will focus on opportunities for audit firms with an EBP focus, as well as strategies for building and maintaining a successful EBP audit practice. Areas of discussion will include: best practices for training and equipping staff for EBP audits, maximizing efficiencies through the audit process, and marketing and growing an EBP audit practice.