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The Elapsed Time Method: A Help or a Hindrance? [2019]
Date: 6/10/2019 Start Time: 12:00 PM (ET) Duration: 60 Min.

Description

At first glance, the elapsed time method for calculating service seems like a promising idea. No need to bother with hours of service. Just keep track of when people are hired and fired and let the chips fall where they may. Indeed, it can offer advantages where employers don’t have systems for accurately calculating hours of service. But the reality is often different, and the results frequently not to anyone’s liking. This one hour program explores the ins and outs of elapsed time, including:

  • Overview and key concepts
  • Periods of service
  • Service spanning
  • Use in eligibility and vesting
  • Separation/severance from service
  • Part time employees
Prerequisites:

There are no prerequisites or advance preparation for this program. The instructor will assume attendees are familiar with preapproved plan documents and with the operation of 401(k) plans.

Level: Intermediate
Instructional Delivery Method
Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: David Schultz, J.D.

Objectives: After the seminar, attendees should be able to:

  1. Explain the key concepts in the elapsed time system
  2. Determine an employee’s periods of service
  3. Apply the service spanning rules
  4. Identify the advantages and risks of the elapsed time method

How to participate

You will need a phone (speakerphone, for multiple participants sharing the Primary registrant’s authorized connection) and Internet Access. The graphics presentation and illustrations will be viewed via the Primary registrant’s Web connection, while the speaker audio portion will be via the Primary registrant’s telephone. Important Note: The user registrant must be logged in via the internet for CE purposes. Select the "Fees" link on the right side menu of this page for more information about who is authorized to connect to the program, and for the cancellation/transfer policy.

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