RTSC
SURGENT McCOY's GUIDE TO DESIGNING AND ADMINISTERING THE NEW ROTH 401(k),
TRADITIONAL 401(k), SIMPLE, AND CAFETERIA PLANS
Salary reduction plans are being created in record numbers
across the country. Employers, consultants, and CPAs must understand the
complexity compliance and administration issues. The purpose of this course
is to focus on how to meet the IRS and Department of Labor standards and
manage these plans effectively.
Major topics include:
- Selected coverage of the Pension Protection Act of 2006
- Features of §401(k) plans, hardship withdrawals, plan loans, compliance issues,
matching contributions, and associated W-2 issues
- Nondiscrimination
rules and §401(k) plans -- The new final regulations and the alternative
SIMPLE-structured CODA
- SIMPLE plans --
Understanding how they work, managing eligibility, alternative structures
for nondiscrimination, and more
- The deemed IRA
- new regulations provide guidance
- The Roth contribution
program - new for 2006
- Plan administration
-- Developing employee education programs to maintain participation,
using the payroll system for salary reductions, and IRS audit guidelines
of §401(k) plans
- Remedial programs
under EPCRS -- How to correct errors and mistakes in plan documents
and operations without disqualification of the CODA or plan
- Accounting issues
for plan contributions, income, gain, loss, withdrawals, and distributions
- Participant-directed
accounts -- Reduction of fiduciary liability through ERISA §404(c) plans
- Loan programs --
The reduced prohibited transaction exposure to owner-employees, structure
of plan loans to participants to avoid excise tax, operational issues
including tax impact on the plan, its fiduciaries and the participants.
Special problems associated with participant-directed plans
- Cafeteria plans
-- Discussion of the kinds of benefits offered, IRS filing requirements,
nondiscrimination rules, annual reporting, the new "liberal" use rule,
and W-2 salary reduction issues
- Late-breaking tax
legislation
Designed
for: CPAs in industry, human resource managers,
and public accountants who need to understand the intricate issues of
cash or deferred arrangements.
Level
of knowledge: Intermediate
Field
of study: Taxes
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