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ERISA: Anti-cutback Workarounds in Restatements
Presentor: Derrin Watson Recorded Date: 11/20/2014 Duration: 60 Min.

Description
This program was recorded during a live presentation given on November 20, 2014 at 12:00PM EST.
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An important section of any plan document is the section dealing with distribution options. Frequently, an employer wishes to add distribution options. That is fine. But sometimes, an employer needs or wants to take them away. And this is where the anti-cutback rule takes a hand. When can a plan move or modify existing distribution options? If it is protected, can the plan be changed going forward? If so, is there a problem with benefits, rights and features? This web seminar examines this difficult, technical issue and the relating nondiscrimination testing concerns.

Topics include:

  • What is a protected benefit?
  • The three protections for vesting
  • Exceptions to the protected benefit rules
  • Extent of the protection
  • Limiting protected options
  • Effect on benefits, rights, features
  • Mechanics of testing benefits, rights, and features
  • Optional approaches and their limitations

Prerequisites: There are no prerequisites or other advanced preparation for this program. The speaker will expect attendees will have a general understanding of the operation of 401(k) and other retirement plans.

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 the seminar, attendees should be able to:

  • Determine if a change in distribution options is a change in protected benefits
  • Determine whether an approach to a protected benefit issue may require nondiscrimination testing
  • Advise an employer on approaches to addressing protected benefit issues