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Fundamentals 12: Plan Loans
Date: 12/17/2012 Start Time: 2:00 PM (ET) Duration: 60 Min.

Description
This is the final segment of the 12-session Web seminar series, “Fundamentals of 401(k) Plans.” For more information about the series and how to order all 12 sessions at a discounted price, click here.

While each session is sold on a “stand-alone” basis, some sessions do build on others. Please refer to the “Prerequisites” below for guidance. All sessions will be recorded and available for purchase. Due to the inability to track attendance, however, a Letter of Participation is not provided for recorded events.

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Handling plan loans is one of the most complex aspects of retirement plan practice. Many employees want to be able to borrow from their accounts, including owners. But many retirement rules impact plan loans: prohibited transaction rules, deemed distribution rules, joint and survivor rules, and plan asset rules, and more. There is a lot to keep track of just to let a participant have temporary access to his or her funds.

This program gives new practitioners a valuable and firm foundation in how to administer plan loans.

What you'll learn:

  • Avoiding deemed distributions
  • Maximum loan amount
  • Enforceable agreement
  • Repayment rules
  • 5-year limit
  • Level amortization
  • Payment suspension
  • Curing defaults
  • Refinancing loan
  • Consequences of deemed distribution
  • Penalty taxes
  • Loan offsets
  • Reporting
  • Repayment
  • Phantom interest
  • Limits on future borrowing
  • Avoiding prohibited transactions
  • Reasonable interest
  • Nondiscrimination requirements
  • Reasonable availability
  • Adequate security
  • Plan provisions or policy
  • Plan asset requirements
  • Joint and survivor requirements
  • Plan correction
Prerequisites: There are no prerequisites or other advanced preparation for this segment.

Level: Beginning

Instructional Delivery Method
Group - Internet-Based

Speaker – Kevin L. Burch, J.D., LL.M.

Objectives: After participating in this segment, attendees should be able to:

  1. Apply the prohibited transaction rules to plan loans
  2. Apply the tax code rules to plan loans
  3. Determine deemed distributions
  4. Distinguish between a deemed distribution and loan offset
  5. Address phantom interest after loan default
  6. Apply the reasonable interest rate requirement to plan loans
How To Participate
You will need a phone (speakerphone, for multiple participants sharing the Primary registrant’s authorized connection) and Internet Access. The graphics presentation and illustrations will be viewed via the Primary registrant’s Web connection, while the speaker audio portion will be via the Primary registrant’s telephone.

Select the "Fees" link on the right side menu of this page for more information about who is authorized to connect to the program.

Program Schedule (Eastern Time)
Monday, December 17, 2012
2:00 to 3:00 p.m. Eastern Time
(1:00 p.m. CT; 12:00 Noon MT; 11:00 a.m. PT)

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

 


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