EBPAQC Update iconEBPAQC Update

EBPAQC Update

May 16, 2018 6:00am ‐ May 16, 2018 7:00am

Identification: EBP18201

Attendees will:
- Locate new resources and tools from the Employee Benefit Plan Audit Quality Center.
- Select the resources and tools to help your firm apply best practices and achieve efficiencies in your EBP audits.
- Identify opportunities to network in the EBP audit community to enhance your audit quality.
Beyond the Audit: AICPA Resources that Give You the Upper Hand iconBeyond the Audit: AICPA Resources that Give You the Upper Hand

Beyond the Audit: AICPA Resources that Give You the Upper Hand

May 16, 2018 6:00am ‐ May 16, 2018 7:00am

Identification: EBP18202

The AICPA has a wealth of resources for many aspects of ERISA and retirement planning. AICPA staff and members will review these resources to give participants familiarity with what they can offer for a vibrant ERISA practice or to plan sponsors for use by internal accounting or human resources staff – or even plan participants. Key takeaways include:
• Identify tools from the AICPA Tax Technical Resource Panel
• Recall tax advocacy initiatives
• Identify AICPA Tax Section tools
• Identify AICPA Financial Literacy tools for plan sponsors and plan participants

Contributions & Participant Data - Part I iconContributions & Participant Data - Part I

Contributions & Participant Data - Part I

May 16, 2018 8:45am ‐ May 16, 2018 10:00am

Identification: EBP1826

This session will focus on the eligibility and contribution process of a defined contribution plan, and the testing of these areas. This session will be continued in Session #32.

Attendees will:

• Identify the various contribution types

• Recall how to design audit procedures to cover the identified assertions

• Identify testing procedures, including sampling, over payroll, remittance schedule, participant eligibility, and contributions, including rollovers

• Select amounts of participant and employer contributions based on the plan provisions (e.g. eligible compensation) and annual limits

Forget Me Not - 401(k) Testing Rules iconForget Me Not - 401(k) Testing Rules

Forget Me Not - 401(k) Testing Rules

May 16, 2018 8:45am ‐ May 16, 2018 10:00am

Identification: EBP1828

401(k)s, the most popular retirement plan, presents numerous opportunities for encouraging employee participation and ease of operation. Learn these opportunities, how best to use them, problems that can arise and what to do when problems do arise.

Attendees will:
- Recall the tax qualification and ERISA requirements for operating 401(k) profit sharing plans, including the ability to invest in employer stock within the plan.
- Recall how to efficiently operate a 401(k) plan so that employees will maximize their participation.
- Identify the correction methods available if you find a 401(k) plan with qualification or ERISA violations.
The Cybersecurity Landscape - A Plan Sponsor's Evolving Story iconThe Cybersecurity Landscape - A Plan Sponsor's Evolving Story

The Cybersecurity Landscape - A Plan Sponsor's Evolving Story

May 16, 2018 8:45am ‐ May 16, 2018 10:00am

Identification: EBP1829

It’s no secret plan sponsors face many pressures when it comes to administering benefit plans, especially when it comes to data security issues. Did you know, under ERISA, plan sponsors are responsible for monitoring and managing cybersecurity risk? Listen to a service provider’s view of the changing focus on cybersecurity and benefit plans. Risks associated with a plan’s cybersecurity will be discussed for auditors to assist clients and plan the benefit plan audit. All should attend the Cybersecurity and EBPs: How to Minimize the Risk session to hear about background on plan sponsor and auditor responsibilities when it comes to cybersecurity and plans. Come to this session to:
• Determine current and emerging threats facing benefit plans;
• Identify the mission and latest update from the Data Security Oversight Board (created by the SPARK Institute);
• Identify service provider responsibilities and risks related to entrusted data;
• Compare responsibilities between service providers, plan sponsors and auditors;
• Select best practices and practical tools to take back to your organization to ensure fiduciary responsibility is met over the plan.
Derivatives iconDerivatives

Derivatives

May 16, 2018 8:45am ‐ May 16, 2018 10:00am

Identification: EBP1830

This session will provide a background of the typical derivatives that are seen in employee benefit plans. The session will discuss how and why derivatives are used and the various accounting and disclosure requirements that are common to employee benefit plans.
Objectives:
(1) Identify derivatives that might be held as investments with employee benefit plans
(2) Determine the basis of derivatives
(3) Choose the disclosure and accounting requirements (specific to employee benefit plans)
Traps for the Unwary iconTraps for the Unwary

Traps for the Unwary

May 16, 2018 8:45am ‐ May 16, 2018 10:00am

Identification: EBP1831

This session will review and discuss issues that arise in Traditional IRAs, Roth IRAs, and SEP IRAs. Be sure that you and your clients do not run afoul of any of the Roth and traditional IRA and SEPs rules. This session will review tax rules and investment issues affecting Roth IRAs, traditional IRAs and SEPs, including funding, conversions and distributions, as well as some thoughts when considering the costs and benefits of alternative investments, valuation rules, Prohibited Transition rules, ROBs and Unrelated Business Income Tax issues that may arise.
At the end of the session the participant should be able to
• List and identify the contribution limit rules for IRAs, Roth IRAs and SEPs
• Determine whether an individual can make a SEP contribution
• Calculate the amount that can be contributed to an IRA or SEP
• Determine whether there could be prohibited transition risks with regard to an investment
• Discuss the treatment of a sale from an IRA to a family member
• Determine whether an investment is likely to create UBIT for the IRA, Roth IRA or SEP
• Discuss valuation issues that can arise for IRA, Roth IRA and SEP assets
A&A Update (Repeat of Session EBP1812) iconA&A Update (Repeat of Session EBP1812)

A&A Update (Repeat of Session EBP1812)

May 16, 2018 8:45am ‐ May 16, 2018 10:00am

Identification: EBP1832

This session will cover emerging practice issues, as well as, current accounting, auditing, and reporting developments impacting your 2017 employee benefit plan audits. Speakers will share their perspectives and experiences in the following areas so you are able to:

• Analyze the accounting and auditing issues that affected the 2016 audits of employee benefit plans
• Determine accounting and auditing considerations for the 2017 audits
• Identify topics that are on the horizon
Contributions & Participant Data - Part II iconContributions & Participant Data - Part II

Contributions & Participant Data - Part II

May 16, 2018 10:10am ‐ May 16, 2018 11:25am

Identification: EBP1833

This will be a continuation of session #26. This session will continue to focus on the eligibility and contribution process of a defined contribution plan, and the testing of these areas. See a full session description at Session #26.

Master Trust Arrangements: Dealer's Choice(s) iconMaster Trust Arrangements: Dealer's Choice(s)

Master Trust Arrangements: Dealer's Choice(s)

May 16, 2018 10:10am ‐ May 16, 2018 11:25am

Identification: EBP1836

Learn about the new requirements of ASU No. 2017-06, Employee Benefit Plan Master Trust Reporting. Session will include an overview of how a plan’s ownership in the master trust is reflected under a unitized or dollar-allocation method and how to identify whether the plan has a divided or undivided interest in a master trust. There will also be a discussion of implementation best practices and challenges from a service provider and auditor perspective.

Learning objectives:
• Identify requirements of ASU No. 2017-06 and impact on accounting, auditing and reporting.
• Recognize different types of master trust arrangements.