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DOL and IRS Compliant Participant Notices
Presentor: Derrin Watson Recorded Date: 11/30/2010 Duration: 100 Min.

Description
Participant notices are essential to the operation of a retirement plan, and therefore are critical to plan administration. The Code includes specific notice requirements prior to distributions. These notice requirements vary based on the amount, nature and timing of the distribution, as well as the plan design.

Title I of ERISA also requires notices at the time of plan entry and on a regular basis thereafter. In addition, plan fiduciaries may enhance protection from potential liability by providing timely and adequate notice regarding administrative issues such as blackouts, mapping investments and investing default deferrals.

In this Web seminar, we will outline the basic requirements for participant communication at the time of initial participation and on an ongoing basis. We will contrast Title I disclosures with Code disclosures, considering timing and method of delivery as well as penalties for failure to comply with the requirements. We also will cover special notices that may provide fiduciary protection in case of specific plan “events.” We will review the requirements for electronic communication, comparing and contrasting the DOL and IRS standards.

As a plan administrator’s disclosure obligations expand under the new participant disclosure regulations, it is important for the plan administrator to have a handle on the fundamental notice requirements applicable to qualified requirement plans. Be sure to attend this Web seminar to enhance your understanding of the participant notice requirements.

Topics include:

  • Title I disclosures: SPD, SMM, Participant benefit statement, and more
  • Distribution paperwork
  • Joint and survivor requirements and spousal consent; profit sharing exemption
  • Other Code required forms and notices
  • Fiduciary protection for blackouts, mapping, and default investments
  • Use of electronic communication

Prerequisites: There are no prerequisites or other advanced preparation for this program.

Level: Intermediate

Instructional Delivery Method:
Group – Internet-Based

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. Differentiate between Title I and Code disclosure requirements
  2. Prepare for in-service distributions
  3. Prepare a distribution “package” on separation from service
  4. Apply the Title I rules for fiduciary protection for blackouts and mapping
  5. Explain and apply electronic communication methods

How To Participate
You will need a phone (speakerphone for multiple participants) and Internet Access. The graphics presentation and illustrations will be viewed via a Web connection, while the speaker audio portion will be via your telephone.

Program Schedule (Eastern Time)
Tuesday, November 30, 2010
2:00 p.m. to 3:40 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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