FERENCZY BENEFITS LAW CENTER/DUKE FINANCIAL PARTNERS
On June 8, 2021 at 12:00 PM (ET) Alison J. Cohen joined forces with Duke Financial Partners for a 2nd Quarter 401(k) Compliance Update. Over $3.1 billion dollars were restored to employee benefit plans, participants, and beneficiaries. These are common errors that all plans, regardless of size, inadvertently commit every year. Alison partnered with Michael Fennessy, Partner at Duke Financial Partners for this session that had breaking news from the Department of Labor.
FERENCZY BENEFITS LAW CENTER/ERISAPEDIA FREE WEBCAST
On June 15, 2021 at 2:00 PM (ET), Alison J. Cohen presented an informative and insightful webinar : DOL Cybersecurity Guidance – Now What? The DOL issued its cybersecurity tips for plan sponsors looking to hire service providers in late April 2021. Now, service providers need to get serious and figure out how to implement the guidance. Alison kept her fingers on the pulse of this issue for several years and provided step-by-step practice tips of how to meet the guidance requirements. Discussion included an understanding of cybersecurity insurance, what written policies a provider should have, and how to structure internal procedures in the event of a breach.
Listen in on our first podcast featuring Alison Cohen discussing PEPs, MEPs, and SEPs with Rick Unser of 401(k) Fridays.
NAFE AMPLIFIED 2.0
On May 17-19, and 24-25, 2021, Ilene Ferenczy, Alison Cohen and Derrin Watson spoke at this virtual event designed exclusively for retirement plan professionals. The 2021 NAFE Amplified offered enriching, relevant education to enhance the services provided to clients. Every year, this conference helps discover innovative solutions for strengthening and expanding business. The five-day virtual event is the most cost-effective option for receiving up-to-date information on all aspects of the retirement plan industry, including day-to-day tasks, the impact of recent or forthcoming legislation, industry trends and practical tools to expand pension administration knowledge.
THE GEORGIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS 2021 VIRTUAL EMPLOYEE BENEFIT PLAN CONFERENCE
On May 13, 2021, Ilene Ferenczy presented PEP (and MEP) Talk! at the GSCPA 2021 Virtual Employee Benefit Plan Conference. If you believe Washington, MEPs and PEPs are all the rage! Ilene discussed how these plans work, current regulatory and other guidance, and previewed some of the challenges CPAs might face when called upon to provide audit financials.
NORTH CAROLINA ASSOCIATION OF CPAS EMPLOYEE BENEFITS PLAN VIRTUAL CONFERENCE
May 11, 2021, Ilene Ferenczy presented Ensuring a CARES-ful Audit at a virtual conference hosted by NCACPA. Whether a plan did or did not take advantage of the sections of the CARES Act that could have provided relief to some of its participants, the COVID pandemic and the relief bill both affected plan administration significantly. A plan audit must look at the issues involved and make sure that there are no compliance issues. Did the plan provide CARES distributions to its employees? Did it suspend (or not suspend) required minimum distributions in 2020? Did the company fail to deposit deferrals due to financial pressures? Did it pay terminated participants … and did those participants really end up terminating? Was there a partial plan termination? Ilene answered all of these questions and more.
ERISAPEDIA/FERENCZY BENEFITS LAW CENTER WEBCAST
May 5, 2021 marked the date of the ERISApedia/Ferenczy Benefits Law Center webcast: Amendments: Try, Try Again.
The landscape for plan amendments is confusing at best, and SECURE and EPCRS have made it only more so. What is the deadline for a discretionary amendment? Can you get around that deadline with a retroactive amendment under Regulation 1.401(a)(4)-11(g)? How about the new SECURE rules allowing retroactive plan adoption? Or maybe you can try the EPCRS rules allowing retroactive amendments to expand benefits, rights, and features. Or can you? Ilene Ferenczy and Derrin Watson brought clarity out of chaos.
35TH ANNUAL EMPLOYEE BENEFITS INSTITUTE CONFERENCE (VIRTUAL)
On April 29, 2021, Ilene Ferenczy presented: MEPs, PEPs and GOPs: Like ‘Em or Hate ‘Em? at the 35th Annual Employee Benefits Institute Conference. The talk of the industry these days is about the various types of group plan arrangements. Washington thinks they are the answer to the retirements savings crisis. Many in the industry think that they are a significant threat to high quality plan administration and plan sponsor control. Some TPAs and FAs are flocking to them, but are they ready for prime time?
PENSIONS ON PEACHTREE VIRTUAL CONFERENCE
On April 26-27, 2021, the BEST 2 days of CE in the Southeast took place, as the professional educators at FIS joined the attorneys of the Ferenczy Benefits Law Center, based in Atlanta, GA, to bring Virtual Pensions on Peachtree (POP) Conference. Attendees received up 450 total minutes or (9) ASPPA, (9) ERPA, (9) NASBA continuing education credit hours, including 1 Ethics credit.
ERISAPEDIA/FERENCZY BENEFITS LAW CENTER WEBCAST
The February 16, 2021 webcast focused on how missing participants have long plagued plan sponsors and third party administrators. The U.S. Department of Labor recently shared the warning signs that they look for on Forms 5500 to indicate that a plan has a problem with missing participants, but it also shared suggested best practices. Alison Cohen from Ferenczy Benefits Law Center reviewed the best design options and operational practices to help clients keep their plans lean and mean. The discussion included best options for finding lost lambs and bringing them home again.
VIRTUAL ADVANCED PENSION CONFERENCE
A three half-day Virtual Advanced Pension Conference (APC), January 26 – 28, 2021, provided important updates on current legislative action and developments from the IRS, DOL and Capitol Hill. The program offered a variety of topics presented by a panel of experts.
PENSION EDUCATION COUNCIL OF ATLANTA (PECA) WEBINAR
On January 19th, 2021, PECA hosted its first event of the year!
We all know that ERISA puts the burden of prudence and operating a plan for the exclusive benefit of the participants on plan fiduciaries. Ilene Ferenczy and Alison Cohen from Ferenczy Benefits Law Center reviewed the key lawsuits that have been in the news (and some that are still pending) and discussed what went wrong for so many fiduciaries and their plans. Then, Diane Gallagher from American Century Investments shared what it means to be a tried and true, gold star plan fiduciary. After successfully defending against one such fiduciary lawsuit, Diane shared her first-hand experience on how the committee successfully defended itself by vowing to do what was right versus easy.