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This program was recorded during a live presentation on April 6, 2006.
Part-timer, temporary, and seasonal employees have always been problematic for retirement plans. Employers would love to exclude them as a group, but ERISA closed that option, and substituted the year of service requirement. Modern plan design allows for immediate entry in many 401(k) plans, and employers would be fine with that except that it allows both full-timers and part-timers to enter, which can be a bother, an expense, and a drag on testing.
A new memo from the IRS suggests an alternative approach to the problem. A plan can let full-time employees enter immediately, but require a year of service from part-timers. There are some definite upsides to this approach, and some hidden downsides. Moreover, the memo warns of a trap many drafters may have fallen into, a trap not covered by a favorable determination letter.
This pre-recorded Web seminar explores the new memo and what it means. We look at the perils, the pitfalls, and the possibilities. The 75-minute program includes examples, analysis, and answers from Derrin Watson, one of the foremost experts on employee status issues in the country.What You'll Learn
Speaker – S. Derrin Watson, J.D., APM
Instructional Delivery Method
Group – Internet-Based
Those who participate should already understand the basics of the eligibility and coverage rules.
Level - IntermediateSystem Requirements
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: WebTechSem@relius.net