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The Anti-Cutback Rule: Tricks, Traps, and Workarounds [2019]
Presentor: David Schultz Recorded Date: 6/24/2019 Duration: 60 Min.

Description
This program was recorded during a live presentation given on June 24, 2019.
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The anti-cutback rule is a familiar rule, but one that is often not fully understood. For example. from time to time, an employer will need or want to take to modify distribution options or other benefits. And this is where the anti-cutback rule comes into play. When can a plan remove 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

NASBA Field of Study: Taxes

Speaker: David Schultz, J.D.

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

  1. Determine if a change in distribution options is a change in protected benefits
  2. Identify whether a given plan option is a protected benefit, right, or feature
  3. Determine whether an approach to a protected benefit issue may require nondiscrimination testing
  4. Advise an employer on approaches to addressing protected benefit issues

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