401(k) Update

You may purchase a CD recording for this program which took place June 7, 2006

Featured Presenter:
Ilene Ferenczy, Esq.
Highly-rated IAML instructor

Who Should Participate:
This intermediate level program is designed for benefits and human resource professionals who have responsibility for administering a 401(k) plan for their organization.

About This IAML AudioPro ConferenceSM:
During the past year, the IRS has finalized regulations that require significant changes in many procedures for administering 401(k) plans. Examples of these changes, which became effective at the beginning of this year, include:

  • New rules for calculating refunds to highly compensated employees when nondiscrimination testing is failed;
  • New rules for determining the timing of amounts deposited to the plan;
  • Clarification of provisions relating to safe harbor 401(k) and matching plans;
  • A loosening of testing that makes KSOPs (i.e., combinations of 401(k) plans and ESOPs) easier to maintain;
  • Testing rules that make it easier to let new employees into the plan without making it harder to pass nondiscrimination testing;
  • Catch-up contribution rules; and
  • New guidance on negative elections (also called automatic enrollment).

Furthermore, beginning in 2006, plans may permit their employees to make after-tax contributions to a designated Roth account.

This training will update you on the changes brought about by the new regulations, as well as the initiation of Roth 401(k) provisions. You will leave the AudioPro Conference with information about both the technical and practical considerations of the new rules, putting you in a position to ask the right questions and find the right answers.

IAML's program will cover:

  1. Introduction: The new regulations and their impact on plans
  2. Overview of 401(k) plans
  3. Discussion of the new contribution timing rules
  4. Nondiscrimination testing: What is new and can it be made less painful?
  5. Safe Harbor plans: Are they a viable alternative?
  6. Catch-up contributions: How do these help participants and the plan?
  7. Roth 401(k) provisions: What is needed to offer this provision, and is it worth the trouble?
  8. What changes are needed to your plan document and when?

Featured Presenter:
Ilene H. Ferenczy, J.D., CPC, APA, is the managing member of The Law Offices of Ilene H. Ferenczy, LLC, in Atlanta, where she advises clients on all types of employee benefit plans. Ms. Ferenczy particularly focuses her practice on qualified retirement plans (including 401(k) plans), benefits issues in mergers and acquisitions, and advising sponsors and administrators of employee benefit programs on technical and practice issues. Having become an attorney after more than 10 years as a third party administrator, she brings a unique and practical approach to her advice. She is a member of the State Bars of California and Georgia, and holds designations as a Certified Pension Consultant from the American Society of Pension Professionals and Actuaries (ASPPA) and Accredited Pension Administrator from the National Institute of Pension Administrators. She is a nationally known speaker on benefits issues for both IAML (Certificate in Employee Benefits Law Seminars) and other organizations, and has authored more than 50 articles for publications such as the Journal of Pension Benefits (where she is co-editor), the Journal of Taxation of Employee Benefits and The ASPPA Journal. The sixth edition of her book Employee Benefits in Mergers and Acquisitions, an Aspen publication, was released in September 2005. Ms. Ferenczy recently completed a three-textbook series about defined contribution plans to be used for ASPPA's education and examination program.

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