This includes sessions from the conference: Employee Benefit Plans Conference 2018
Explore the fundamentals of a society that is grossly under-saving for retirement, the primary forces that are contributing, and the fundamental shift needed to get us back on track. Author, Stig Nybo, will share lessons learned from the writing of “Transform Tomorrow: Awakening the Super Saver in Pursuit of Retirement Readiness,” an award winning book on how to change saving behavior.
America is facing a monumental “retirement readiness” challenge that can only be overcome by changing the way America thinks about saving for retirement. We will begin by investigating why so many Americans are at risk of outliving their savings and the three critical forces impacting Americans’ preparedness: Longevity; Consumerism; and Leverage. Then move to the solutions that can help bring about the changes needed for individuals to reach a secure retirement: New system‐wide contextual drivers; baseline financial literacy: and renewed beliefs around saving vs. spending.
Throughout the presentation, Stig incorporates stories to illustrate key points and uses captivating examples from history to bring the message to life. He borrows from the wisdom of Gandhi, Walt Disney, Mark Twain, Margaret Mead, and even Robin Williams in the Dead Poets Society to make his point. Come enjoy a sobering, yet enjoyable session that will change the way you think about planning for retirement.
- Identify the primary forces that are contributing to under-saving
- Select resources to prepare yourself or clients for retirementSpeaker(s):
This session will be a general introduction to plan documents and highlight certain key elements for plan auditors. It will also introduce the plan document provisions of the defined contribution case study and serve as the basis of the entire fundamental track case study.
• Distinguish between the different types of plan document designs being used by plan sponsor and highlight the IRS determination letter program.
• Identify key plan provisions in order to develop audit procedures
• Recall differences in plan design
• Indicate common plan amendments
• Recall how to use the AICPA EBPAQC's Plan Document Tool
Discussion of basic qualified plan nondiscrimination issues including:
- discrimination testing
- 415 testing
- 402g limits (401K-m plans)
- 414q and 414s (compensation testing)
- top heavy rules
1. Identify basic nondiscrimination testing required for qualified retirement plans.
2. Identify impact and correction of failure of nondiscrimination tests for a qualified plan.
This session will:
- Distinguish what an ESOP is and why companies use them.
- Recognize differences in ESOPs compared to other qualified retirement plans and from other ownership transition options from a high level.
The session will not cover detailed accounting for ESOPs.Speaker(s):
This session will discuss the status of healthcare reform and current health plan legislative and regulatory requirementsSpeaker(s):
This session is part 1 of 2 of working through the planning and risk assessment process for the fundamental track case study, and will continue in Session #18. Participants will be able to:
- Recognize a variety of planning documents and procedures that are necessary to properly plan an employee benefit plan, through provided example.
- Recall why these elements are important.
- Indicate when limited-scope audits are appropriate and what documents must be obtained when performing a limited-scope audit.Speaker(s):
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
Within this session, participants will review a wide array of responsibilities that plan administrators must attend to. and provide focus on plan participant notice requirements. The discussion will cover the following matters:
- Identify basics of plan governance reporting requirements, including Form 5500 vendor and management investment selection
- Recall content, timing, and delivery of monitoring participant notices
- Recognize the importance of documenting all decision making processes and deliberation of decisions
- Indicate the requirements of a typical plan's notices including what's required, timing and delivery requirements
Discover the various basic retirement plans appropriate for the small business employer. Help your clients and plan sponsors realize the value of adding a plan or the value of their existing plan.
- Identify retirement plan options available to small business employers.
- Estimate the costs benefit of the plan selected.Speaker(s):
No individual, organization or industry is immune from cyber-attacks. Attackers specifically target organizations with access to highly sensitive information, like plan sponsors of benefit plans or service providers. The operation and administration of benefits plans requires collecting, processing and storing data assets among multiple parties. To minimize risks, one must understand the types of data, data flows, control points and the responsibilities of each party involved. Come to this session to:
• Distinguish plan sponsor cybersecurity concerns and responsibilities under ERISA;
• Identify the Department of Labor’s Cybersecurity Considerations for Benefit Plans report and how to use this report in evaluating plan controls and safeguards;
• Recognize auditors’ roles and responsibilities when auditing an employee benefit plan.