Learn about the new procedures for determination letters and how to stay compliant.
In 2016, the IRS announced that it was eliminating, effective as of January 1, 2017, the ability of employers to obtain new determination letters for their individually designed retirement plans except in certain limited circumstances. Employers have become accustomed to getting a new favorable determination letter every five years, but now that is no longer an option. Going forward employers may only obtain a determination letter upon the adoption of a new plan, the termination of an existing plan or as otherwise announced by the IRS. Given the cutbacks to the IRS determination letter program, how can employers ensure that their individually designed retirement plans, with various amendments and design changes, remain in compliance with the voluminous requirements for tax-qualified status? You will learn about the new IRS determination letter process and the steps you can take to ensure continued compliance.
Agenda
Faculty
Patricia L. Beaty, Esq.
Taft Stettinius & Hollister, LLP
- Partner in the office of Taft Stettinius & Hollister, LLP focusing exclusively on employee benefit matters
- Practice emphasizes all aspects of employee benefits and executive compensation of both retirement and health and welfare plans
- Conducts regular client training, seminars, and workshops on ERISA, fiduciary duties, the Affordable Care Act, IRS and DOL audits, 401(k) plans, defined benefit plans, cash balance plans, health and welfare plans, VEBAs, Medicare Secondary Payer rules, litigation, mergers and acquisitions, 403(b) plans, 457(b) plans, 457(f) plans, and new comparability (cross-tested) plan designs
- Certified employee benefits specialist (CEBS), American Bar Association Committee on Employee Benefits, Indiana Benefits Conference (past chairperson), Indianapolis Bar Association, and current President of the Indiana Chapter of the International Society of Employee Benefit Specialists
- J.D. degree, Indiana University, Robert H. McKinney School of Law; B.S. degree, Ball State University
- Can be contacted at [email protected]
Jessica Kuester
Ogletree, Deakins, Nash, Smoak & Stewart, P.C.
- Of Counsel in the office of Ogletree, Deakins, Nash, Smoak & Stewart, P.C.
- Practice emphasizes all aspects of Employee Benefits
- Conducts regular seminars and workshops on compliance with the Affordable Care Act, HIPAA, COBRA, and ERISA
- Has designed compliant 125 cafeteria plans, HIPAA programs, and “wrap” health plan documents; she has also provided HIPAA training for employers’ workforces
- J.D. degree, magna cum laude, Syracuse University College of Law; B.S. degree, Frostburg State University
- Can be contacted at 317-916-2544 or [email protected]
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