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Training & Seminars
Training Programs (click title for description) The Roth 401(k): Pay Uncle Sam Now or Pay Him Later? "4 Steps to Success" Consultative Selling from the Pension Perspective Mini(k) Plan Design, Benefits and Features Continuing Education Seminars (click title for description) The Roth 401(k): Retirement and Estate Planning Opportunities Red Flags Signify Planning Opportunities for Small Businesses Cash Balance Pension Plans for Professional Practices Accreditation These seminars and programs comply with the continuing professional education requirements for certified public accountants in New Jersey and Pennsylvania, and insurance agents and brokers in Pennsylvania. Contact us to inquire about continuing education credits for other professions.
Training and Seminar Schedule
Training Program Descriptions
Seminar: "Pay Uncle Sam Now or Pay Him Later?" Background Plan sponsors have the option to add a Roth 401(k) feature to their new or existing qualified retirement plans effective as of January 1, 2006. The Roth 401(k) feature permits all plan participants, regardless of their adjusted gross income, to make elective contributions to their 401(k) plans on an after-tax basis. These elective contributions plus any gains on the selected investments accumulate 100% income tax free, and all qualified distributions from these accounts are 100% income tax free. Objective This 30 minute seminar along with a 15 minute Q&A session provides an overview of the Roth 401(k) basics. Case study examples illustrate how the Roth 401(k) affords planning opportunities for plan participants of all income levels. This seminar provides the information necessary to assist clients in determining if the Roth 401(k) should be added to their new or existing qualified retirement plan and to assist plan participants in determining if the Roth 401(k) is preferable when compared to a traditional pre-tax 401(k). Seminar Description § Background § Roth 401(k) Basics ü Eligibility and Individual Contribution Limits ü Taxation of Contributions ü Taxation of Distributions ü Distribution Rules ü Key Planning Distinctions between Roth 401(k) and Roth IRA § What Plan Sponsors Should Consider § What Plan Participants Should Consider § Case Study Planning Examples § Conclusions Continuing Professional Education or Pennsylvania Insurance CE Credit: Not Applicable
Seminar: "The Roth 401(k): Retirement and Estate Planning Opportunities" Background Plan sponsors have the option to add a Roth 401(k) feature to their new or existing qualified retirement plans effective as of January 1, 2006. The Roth 401(k) feature permits all plan participants, regardless of their adjusted gross income, to make elective contributions to their 401(k) plans on an after-tax basis. These elective contributions plus any gains on the selected investments accumulate 100% income tax free, and all qualified distributions from these accounts are 100% income tax free. Objective This 2 hour seminar provides an overview of the Roth 401(k) basics and information on plan qualification, recordkeeping, compliance and operational requirements for plans that adopt the Roth 401(k) feature. Case study examples illustrate how the Roth 401(k) affords planning opportunities for plan participants of all income levels, and why it provides significant retirement and estate planning opportunities for high income taxpayers. This seminar provides the information necessary to assist clients in determining if the Roth 401(k) should be added to their new or existing qualified retirement plan and to assist plan participants in determining if the Roth 401(k) is preferable when compared to a traditional pre-tax 401(k). Seminar Description § Background § Roth 401(k) Basics ü Eligibility and Individual Contribution Limits ü Taxation of Contributions ü Taxation of Distributions ü Distribution Rules ü Key Planning Distinctions between Roth 401(k) and Roth IRA § Plan Qualification, Recordkeeping, Compliance and Operational Issues ü Elective Deferral Treatment ü Plan Amendments ü Separate Accounting Requirement and Ordering Rules ü Testing Failures and Refunds ü Payroll and Reporting Issues ü Employee Communications § What Plan Sponsors Should Consider § What Plan Participants Should Consider § Case Study Planning Examples § Conclusions Continuing Professional Education or Pennsylvania Insurance CE Credit: 2 hours Cost: $149 includes 3 month Professional Subscriber subscription to Roth Knowledgebase
"4 Steps to Success" Consultative Selling from the Pension Perspective Background and Program Objective Qualified retirement plans designed to benefit owners and key employees of small businesses with 1-20 employees are an overlooked and underutilized tax-sheltered retirement benefit. Today’s planning professionals (Attorneys, CPAs, CFPs, RIAs, etc.) and financial services representatives lack the expertise to market and sell these plans. They (and their respective employers) are also mindful of the liability typically associated with the governmental compliance requirements of these plans. Participants who complete this program are empowered with the ability to design, sell and service qualified retirement plans for this over looked and under served small business market. Who will benefit from this Program Lawyers, CPAs, CFPs, RIAs, CEBs, CLUs, ChFCs and other Planning Professionals who:
Program Content The program is presented in twelve (12) separate 2-hour modules. Introduction (2 Sessions - 4 hours) § Market Segment Overview - Prevalent Plan Type(s) and Sales Opportunities ü Solo (owner-only) ü Micro (2-10 eligible plan participants) ü Very Small (11-25 eligible plan participants) ü Small (26-100 eligible plan participants) ü Medium (101-500 eligible plan participants) ü Large (501-2,500 eligible plan participants) ü Jumbo (>2,500 eligible plan participants) § Plan Services Delivery System ü Plan Administrator ü Ministerial Duties ü Law Firms ü Actuarial Firms ü Consulting Firms ü Third Party Administration Firms · Balance Forward · Daily Valuation ü Institutional Vendors ü Recordkeeping Only ü Bundled v. Unbundled Services § Plan Investments ü Trustee v. Participant-directed ü Mutual Funds, Lifestyle funds, Individual stocks and bonds ü CD’s, GICs and Stable Value Funds ü Fixed, Variable and Group Annuities ü Real Estate and Mortgages ü Hedge Funds ü Non-Registered Assets ü Separate Brokerage Accounts ü Life Insurance ü Custodial and Trust Services § Fundamental Overview of SEPs, SIMPLEs and Qualified Retirement Plans ü Plan Qualification ü Eligibility and Vesting ü Employer and Employee Limits ü Benefits and Features ü Allocation Methods ü “Safe Harbor” 401(k) ü Compliance Requirements Step 1: “Qualification” (2 Sessions - 4 hours) § Importance of a Prospective Client Initial Interview § Initial Client Interview ü Learn More About the Plan Sponsor · Entity Type, Industry and History · Related Entities · Ownership · Earned v. Unearned Income ü Identify the Prospective Client’s Centers-of-Influence ü Does the Prospect have a Current Plan? · Plan Type; Positives / Negatives · Current Service Provider(s); Positives / Negatives ü Plan Objectives - Identify Needs · Retirement for Business Owner / Keys · Employee Benefit · Tax Shelter for Business Owner / Keys · Extent of Employer Contribution/Benefit Desired · Extent of Employee Contribution/Benefit Desired · “Tax-wise” Plan and “Optimal” Plan Design · Adding a Spouse § Determine if Desired Plan is Viable - Case Studies ü Solo: SEP v. SIMPLE v. PS v. PS/401(k) v. DB v. DB/401(k) ü Micro: SEP v. SIMPLE v. PS v. PS/401(k) v. DB v. DB/401(k) · Allocation Methods · “Safe Harbor” 401(k) · Combined Plans ü Very Small: SIMPLE v. PS v. PS/401(k) v. DB v. DB/401(k) · Allocation Methods · “Safe Harbor” 401(k) · Combined Plans ü Small and Medium: PS v. PS/401(k) v. DB v. DB/401(k) v. ESOP · Allocation Methods · “Safe Harbor” 401(k) · Combined Plans · QNEC Rules · Non Qualified Plans ü Large and Jumbo § Close the Initial Sale - Importance of a Plan Study Step 2: “Consultation” (1 Session - 2 hours) § Importance of Completing a Qualified Retirement Plan Questionnaire § Shareholder / Partner and Employee Surveys § Obtaining Required Information § Case Study Interviews and Surveys Step 3: “Presentation” (5 Sessions - 10 hours) § Background ü In-depth Overview of Qualified Plan Types, Benefits and Features ü “Safe Harbor” 401(k) and Deemed 3% 1st Year Rule ü Combined Plans - Why Now? · Employer Deduction Limits · The Interrelationship of Employer and Individual Limits · Safe Harbor for “cross-testing” · Cash Balance Pension Plans Ø Candidates for this Plan Type Ø Advantages / Disadvantages Ø Minimum Participation Requirements; “Meaningful Benefit” Ø Legislative Environment ü Distributions · Timing Requirements · Loans - “The Good, The Bad, The Ugly” · In-service and Hardship · Death, Disability and Retirement · Minimum Distributions · QDROs ü Optional Forms of Benefits ü Coverage and Nondiscrimination Testing ü Top-heavy · General rules · 401(k) trap · “Safe Harbor” Non-elective and Match · Double and Triple counting the Top-heavy minimum ü Fiduciary Issues and Responsibilities · Who are the Plan Fiduciaries · When is an Advisor a Plan Fiduciary · Fiduciary Liability · Prohibited Transactions and Exemptions · Timing of 401(k) Contributions · ERISA Section 404(c); Separate Brokerage Accounts · Investment Selection and Monitoring; Investment Policy Statement · Employee Education v. Investment Advice § Study Content ü Plan Benefit, Features and Background Information ü Plan Illustrations and Benefit Projections ü Listing of Services and Fees, and Vendor Responsibility ü ERISA Bonding Requirements and Fiduciary Liability Insurance § Case Study Presentations Step 4: “Implementation” (1 Session - 2 hours) § Background ü Plan Form · Individually Designed · Volume Submitter · Prototypes: Standardized, Non-Standardized, Simplified Standardized · Institutional Prototype Sponsor may restrict investment options ü Importance of a Formal Engagement Letter § Plan Implementation ü Plan Document · User Fees · Determination Letter ü Employee Communications · Plan Highlights · Summary Plan Description · Beneficiary and Salary Deferral Election Forms · Investment Selection Forms · Educational Materials ü Employee Meeting § Plan Operational Requirements § Plan Compliance Requirements After the Sale (2 hours) § Annual Administrative Report, IRS Form 5500, Summary Annual Report and Employee Benefit Statements § Non Discrimination Testing § Discrimination in Operation § Plan Audit Requirements § Monitor Investment Program § Distributions ü Lost Participants ü Automatic Rollovers § Plan Redesign ü Plan Sponsor’s Needs Change ü |