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Designing Matching Contributions That Work [2019]
Presentor: David Schultz Recorded Date: 6/3/2019 Duration: 60 Min.

Description

For an ADP-tested plan, the matching contribution is frequently the most important design feature to help pass the test. Your plan documents are likely filled with multiple, and often confusing, options for matching contributions. Making the best use of all those options requires skill, knowledge, creativity, and judgment. This program approaches matching contributions from a design perspective.

Topics include:
  • Discretionary or fixed
  • Current or prior year testing
  • Match rates
  • Limits ($ or %) on match
  • Time period for computing match
  • Contribution deadlines
  • Matching catch-ups
  • Changing matching formulas midyear
  • Different rates for different groups
  • Match based on years of service
  • Compensation issues
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 attending the seminar, you should be able to:

  1. Effectively design a matching contribution program for an employer plan
  2. List the options available in designing a match
  3. Advise clients on the pros and cons of different matching contribution formula options
  4. Assist plan sponsors that want to increase participation or deferral rates

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