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403(b) Terminations: What We Know and Want to Know
Presentor: Derrin Watson Recorded Date: 3/16/2011 Duration: 100 Min.

Description

This program was recorded during a live presentation on March 16, 2011.

After a year and a half on the IRS “to do” list, the IRS has finally released guidance regarding 403(b) plan terminations. The guidance is helpful. It answers several key questions regarding 403(b) terminations. However, it leaves many other issues unanswered and leaves 403(b) sponsors with group annuity contracts without an effective means of plan termination if the vendor does not cooperate.

This Web seminar focuses on what we now know about 403(b) terminations, but we also look at those things that are still shrouded in the mists of uncertainty.

Topics include:

  • 403(b) distribution requirements
  • 403(b) vesting on termination
  • Termination limitations and standards
  • Termination procedures
  • Termination with annuity contracts
    • Individual
    • Group
  • Termination with custodial accounts
  • 403(b) money purchase plans
  • Individual contracts after termination
  • Reporting 403(b) terminations
  • Taxation of termination distributions

Prerequisites: The speaker will assume that participants have a basic understanding of 403(b) operations and requirements.

Level: Overview

Instructional Delivery Method
Recorded playback of a live presentation. 

Speaker
S. Derrin Watson, J.D., APM
Recipient of ASPPA's 2006 Educator of the Year Award

Objectives: After attending this seminar, attendees should be able to:

  1. Explain the IRS requirements for 403(b) plan termination
  2. Determine whether a plan constitutes another 403(b) plan which prevents termination
  3. Identify the procedures a 403(b) plan with annuity contracts must follow
  4. Explain the issues and problems for terminating 403(b) plans with custodial accounts
  5. List the 403(b) rules which apply to distributed annuity contracts

System Requirements:

  • Windows 95, 98, NT 4.0 , 2000, XP
  • Internet Explorer 4.01 or later, Netscape 4.08 or later
  • 56K modem connection or better (128K recommended)
  • Pentium 166+ MHz, 128MB RAM or more
  • 800x600 or higher display resolution
  • Soundcard, Speakers

Recorded Event Time Limitation:
This recorded event will be available for 20 days from your date of registration.

Program related requests, questions, or concerns may be e-mailed to: relius.education@sungard.com.