NOTICE OF CHANGE FOR SEMINAR REGISTRATIONS:
To register for Relius Education seminars and conferences, please login or register for a new login account before proceeding. For more information, please see the Benefits of a Relius User Login Account. For assistance, please contact Client Services at 800-326-7235, and select Option 6.

Universal Availability: a Continuing Challenge to 403(b) Plans
Presentor: Derrin Watson Recorded Date: 10/19/2016 Duration: 60 Min.

Description
This program was recorded during a live presentation given on October 19, 2016 at 12:00PM EST.
*******************************************************************************

With the release of the final 403(b) regulations and the revisions to the IRS correction program that included more 403(b) corrections, the IRS is focusing more attention on 403(b) plans. One of the primary focuses in IRS examinations of 403(b) plans is the universal availability requirement.

A 403(b) plan, unlike a 401(k) plan, does not have an ADP test. However, 403(b) plans are subject to the universal availability rule (elective deferral nondiscrimination requirement). In general, the universal availability rule requires a 403(b) plan to cover all employees and prohibits the plan from imposing an eligibility requirement with respect to elective deferrals. However, the rule does permit the plan to exclude certain employees (e.g., the 20 hour/week exclusion). The exclusions come with very specific rules. In recent guidance, the IRS has provided some flexibility with respect to universal availability as to exclusions for ERISA plans and with respect to the application of eligibility requirements for 403(b) plans. Because the universal availability requirement continues to be a hot topic for IRS examiners, understanding the universal availability rule, the exclusions and the recent flexible IRS interpretations is absolutely necessary for all 403(b) practitioners.

In this 60-minute webcast, we provide you with an understanding of the universal availability requirement and explain how to correct a violation of this important 403(b) requirement.

Topics include:

  • Universal availability requirement
  • Plans exempt from the requirement
  • Exclusions
  • New IRS guidance
  • ERISA vs. non-ERISA plans
  • 20 hour/week exclusion
  • Exclusions subject to the all or not at all rule
  • Correction of failure

Prerequisites: There are no prerequisites or other advanced preparation for this program. The instructor will assume attendees have a minimum of one year of experience.

Level: Beginning

Instructional Delivery Method: Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: S. Derrin Watson, J.D.
Recipient of ASPPA's 2006 Educator of the Year Award

Objectives: After attending this seminar, attendees should be able to:

  • Explain the universal availability rule
  • Apply the exclusions
  • Implement new IRS guidance
  • Design plans to take advantage of the new guidance
  • Correct a plan that has violated the universal availability requirement
  • Apply properly the 20 hour/week exclusion

All ownership and intellectual property rights in and relating to this website and all of its contents or any copies thereof, including but not limited to copyrights, logos, trademarks, service marks, design, text, videos, sound recordings, images, links, graphics, code, concepts and themes are owned by FIS and/or its subsidiaries (collectively "FIS") or used under authorized license by the FIS. Any recording, reproduction, transmission, distribution, publication, performance, broadcast, hyperlink, creation of derivative works or other use in whole or in part in any manner without the prior written consent of the FIS is expressly prohibited. Without the prior written consent of the FIS, you shall not insert a hyperlink to this website or any part thereof on any other website or "mirror" or frame this website, any part thereof, or any information or materials contained in this website on any other server, website or webpage.