- NY Credits : 5.0
- TX Credits : 5.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 5.0
This course is an introduction to employee benefit plans that begins with a historical recount of the perceived inadequacies in the pre-ERISA laws relating to the participation, funding, and vesting for retirement plans, as well as fiduciary responsibilities and liabilities for both retirement and welfare plans. These early rules were seen as narrowly focused and did not cover many aspects of retirement plans. As a result, ERISA was enacted to correct the failings of these rules. The course expands on the introduction by looking at the rules associated with qualified plans that in actuality let a person turn his back on income (defer) by contributing the amounts to a qualified plan and thereby defer the tax to the future. Finally, the course focuses on the reporting and auditing requirements for employee pension plans and employee welfare plans with respect to ERISA, IRC, and DOL. This course has been evaluated for impacts from the Tax Cuts and Jobs Act. This course is most beneficial to professionals new to Employee Benefit Plans who may be at the staff or entry level in the organization but also for a seasoned professional with limited exposure to Employee Benefit Plans.
Upon successful completion of this course, the user should be able to:
identify the impact of ERISA on employee benefit plans,
determine the role of the Pension Benefit Guaranty Corporation (PBGC),
identify differences between defined benefit (DB) and defined contribution (DC) retirement plans,
determine requirements for qualifying an employee benefit plan, and
identify filing requirements of the employee benefit plan annual report.