Find out if an automatic enrollment retirement plan is right for your company.
Many retirement plans are encouraged to implement automatic enrollment with vendors ensuring it is the 'new norm'. However, many companies are unaware of the potential fiduciary pitfalls and operational hurdles automatic enrollment can introduce. This topic will outline types of automatic contribution arrangements, address common errors in implementation, and introduce frequently overlooked considerations regarding the provision. This material will also provide guidance on the determination of the appropriateness of automatic contribution arrangements for your group and give Plan Sponsors and HR professionals tools to review or implement processes to ensure compliance with regulations. There may be a place for automatic enrollment, but not at the cost of jeopardizing your Plan's operational integrity or your fiduciary duty.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Automatic Enrollment History and Types
- ACA
- EACA
- QACA
- Automatic Escalation
When They Go Right
- Good Candidates for Auto Enroll Features
- Benefits of Automatic Enrollment
When They Go Wrong
- Operational Hurdles
- Fiduciary Breaches
- Unforeseen Side Effects
The Bigger Worry... Retirement Readiness
- Participant Perceptions
- Premature Withdrawals
- Increased Participant and Administrative Costs
- Investor Confidence
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on June 20, 2017.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Genelle Brakefield, ERPA, QKA, TGPC, QPFC
Ekon Benefits
- Vice president at Ekon Benefits
- Enrolled Retirement Plan Agent and has awarded credentials of Qualified 401(k) Administrator, Tax Exempt and Governmental Plan Consultant, and Qualified Plan Financial Consultant
- Has served as the instructor for many retirement seminars focusing on fiduciary responsibilities and investment prudence
- M.B.A. degree and a B.S. degree in business administration, University of Tulsa
- Can be contacted at 314-367-6555 or [email protected]
Keith Kowalczyk, ASA, MSPA, AAA, EA
Ekon Benefits
- President at Ekon Benefits
- Practice emphasizes all aspects of group retirement plans including defined benefit, defined contribution, ESOPs, 401(k), 403(b), and 457 Plans
- Conducts regular seminars and workshops on numerous topics related to group retirement plans
- Associate of the American Society of Actuaries
- Has served as the instructor for several pension seminars including Bar Association, Washington University School of Law Regional and National conferences for the American Society of Pension Professionals and Actuaries
- B.S. degree in physics, Eastern Illinois University
- Can be contacted at 314-367-6555 or [email protected]
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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