AAR2308. Correct or Not Correct

In this session, we will discuss some of the most common issues identified during the 2023 EBP audit season and ways that plan sponsors might be able to “fix” those issues. The issues covered in this session will not only include operational errors, such as definition of compensation errors, but they will also include fiduciary errors, such as certain prohibited transactions, and late filing errors. In order to provide diverse perspectives on each of the topics covered, you will hear from both an auditor and a tax specialist

Learning Objectives:

• Identify the various corrections programs required by the IRS and DOL for addressing common retirement plan issues.
• Identify how to develop the ability to recognize common issues that can arise in retirement plans and determine what corrective actions they necessitate.
• Identify best practices for ongoing plan oversight to avoid future missteps that necessitate corrections.