The session will provide an update on new and pending legislation affecting retirement plan, including recent pension funding changes and SECURE 2.0. It will also cover regulatory initiatives affecting retirement plan investing, proxy voting, and investment advice

The session will provide participants with an overview of the recently issued accounting and auditing standards, with a focus on SAS 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. The course will also discuss the new multi-employer chapter in the EBP guide and ASC 606 applicability to EBPs.

Learning Objectives:

• Recently Issued Auditing Standards
• Recently Issued Attestation Standards
• Recently Issued Exposure Drafts
• Other Resources and EBP References

Update from EBSA's Acting Assistant Secretary  on issues including: Electronic communications, guidance on missing participants, increased focus on security risks as EBPs are increasingly attractive targets for cyber crime. The rise of State auto-IRAs. Other agenda items they are focusing on currently or are on the horizon. Cyber security guidance. DOL guidance includes tips for hiring a service provider, cybersecurity program best practices, and online security tips. 

EBSA's Chief Accountant  will discuss plan audit related matters. What are their priorities this year; 5500 changes etc. what is on the horizon, new audit quality study.

Learning Objectives:

• Update on legislative and policy initiatives
• Update on audit quality initiatives

Question and Answer session related to SAS 136 implementation.  

Learning Objectives:

• To gain an understanding on SAS 136 implementation.

Roundtable Discussions with your peers and experts.

SAS 136 means that we will need to change our auditors' report. This is also a great opportunity to revisit financial statements and ensure that they are up to date with fair value standards and other relevant standards that impact reporting. We will drill down into key areas that are critical to have in reporting and discuss some of the main challenges within those areas.

Party in interest/related party, fv disclosures, FBRICs, tax status-as examples

Learning Objectives:

• Ensure accurate and complete financial statement disclosures
• Understand common missteps with financial statement reporting

Update on the new PEPs (Secure Act) - consideration of Form 5500 filings, Audit requirements, etc.

PEP plans and foreseeable audit issues - how to handle; what guidance is available, any tools etc.

This is an opportunity for participants to have questions answered by various experts.