Program Description:
This AIB course discusses the various laws, regulations,
governing bodies, and legal documentation required in
the sponsorship and servicing of qualified plans. A
practical look at ERISA as it applies to fiduciary
responsibilities, what is permitted, what types of
reporting are required, and general nondiscrimination
rules in the daily operation of qualified plans are
reviewed. The various documents required to setup a
plan and a trust, defining the various duties and
responsibilities are reviewed. Internal Revenue
requirements regarding contribution and benefit limits,
nondiscrimination testing, participant recordkeeping
and distributions are discussed. Other regulatory
agencies, such as the OCC, SEC, and the PBGC and
their requirements will be discussed to a lesser extent.
After successfully completing this course, the student will be able to:
- Describe the practical application of ERISA and the IRC
- Identify when certain activities are exempt from prohibited transaction rules
- Review and understand a trust document
- Identify what documentation is required to establish a plan
- Describe, testing requirements, in general terms
- Describe how distributions from qualified plans work
- Explain the governance of the OCC and SEC with
respect to qualified plans
- Define the rules and filings required by the PBGC
Who Should Attend:
Entry to mid-level retirement and benefit services
professionals who provide client service, operational
support or investment management to corporations
sponsoring retirement plans. Also suitable for client
plan sponsors.
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