Hear from the Internal Revenue Service about the latest guidance about how to keep a plan that has had failures (discovered upon a CPA independent audit or IRS examination) qualified for all the tax benefits employers and plan participants expect. The IRS began its correction program hoping that employers and their advisors would take advantage of correcting plan operational defects as well as plan document defects.
This session will be presented by George Patterson who is the person to ask questions about the correction program. Hear from George what the latest changes are to this program and what they mean to you and your clients that sponsor a 403(b) or 401(a) qualified plan.
George will lead us through the basic framwork of the correction program but will take a deep dive into the sticky issues that he sees arise within the Voluntary Correction and Audit CAP aspects of the program. George will be provided with questions and tough issues from the practitioner point of view from practioners experienced with the correction program.
President and General Counsel,
Actuarial Benefits & Design Company