Gain practical knowledge of tax-qualified retirement plans and strategies that will help practitioners better advise clients on the most appropriate options for their businesses. This course covers defined benefit plans, defined contribution plans, and combination designs to maximize benefits to business owners. Also, discuss safe harbor 401(k) plans, allowable contributions, deductions, allocation methods, etc. SECURE Act – new rules regarding required minimum distributions, safe harbor §401k plans, plan start-up tax credits, long-time part time workers, and a whole lot more! Learn key planning considerations, such as eligibility, vesting and participant loans; Form 5500 reporting and disclosure issues; plan fiduciary considerations, and review the legislative environment.
• Determine appropriate plans for your clients.
• Identify administration and compliance issues.
• Recognize fiduciary risk management.
• Recognize key income tax issues related to plan funding.
• Identify problematic plans and potential pitfalls.
• Identify and review types of retirement plans: defined benefit, profit sharing, traditional Sec. 401(k), safe harbor 401(k), Roth Sec. 401(k) and employee stock ownership.
• Types of documents: advantages and disadvantages, where they fit and plan termination issues
• Types of retirement plans
• The SECURE Act
• Plan selection and design
• Contribution and deduction limits and timing
• Reporting and disclosure: Form 5500 and participant communications
• Legislative environment
• In-plan Roth conversions
Basic knowledge of qualified retirement plans.
CPAs, attorneys, human resources and financial professionals.