401(k) Plan Nondiscrimination Testing and Compliance: Guidance for Employee Benefits Counsel and Plan Sponsors
SECURE 2.0, IRS Requirements, Avoiding Corrective Distributions, Safe Harbor Plans, Multiple Employer Plan Complexities
A live 90-minute premium CLE video webinar with interactive Q&A
This CLE webinar will provide employee benefits attorneys, plan sponsors, and administrators with detailed guidance on performing nondiscrimination testing and compliance for 401(k) plans. The panel will review the minimum coverage test, evaluate ADP and ACP tests for ensuring compliance with IRS nondiscrimination requirements, explain the benefits and costs of adopting a safe harbor plan design, assess the impact of SECURE 2.0, and outline the complex legal issues involved in multiple employer plans.
Outline
- Nondiscrimination rules under Section 401
- Nondiscrimination testing
- Minimum coverage test
- Actual deferral percentage (ADP) test for HCEs
- Actual contribution percentage (ACP) test for HCEs
- Cross testing
- Benefits, rights, and features
- SECURE 2.0
- Safe harbor plan designs: risks and opportunities
- Multiple employer plan issues
- Corrective action for noncompliant plans
Benefits
The panel will review these and other key issues:
- How can plan sponsors maximize benefits for HCEs without violating the nondiscrimination rules?
- What advantages does a cross-tested safe harbor plan offer?
- What special rules and considerations apply to multiple employer plans?
- What is the impact of SECURE 2.0?
Faculty
Brandon P. Long
Shareholder, Director
McAfee & Taft
Mr. Long is an experienced, AV Preeminent-rated employee benefits attorney. He represents regional and national... | Read More
Mr. Long is an experienced, AV Preeminent-rated employee benefits attorney. He represents regional and national clients, including large publicly-traded corporations and governmental entities. Clients seek Mr. Long's advice for practical solutions to complex problems, as well as his ability to make technical concepts understandable to executives, employees, and other lawyers. He currently serves as an elected member of McAfee & Taft’s seven-member board of directors. Prior to being elected to the firm’s board, Mr. Long served for many years as the leader of the firm’s Employee Benefits and Executive Compensation Group.
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Timothy G. Verrall
Shareholder
Ogletree Deakins
Mr. Verrall advises a diverse range of clients on a wide variety of employee benefit plan issues arising under ERISA,... | Read More
Mr. Verrall advises a diverse range of clients on a wide variety of employee benefit plan issues arising under ERISA, the Internal Revenue Code, and related federal and state laws, including benefit plan design and administration, executive and incentive compensation, and controversies and litigation. He is a frequent author and lecturer on employment benefit plan issues.
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