Free symposium on new nonprofit retirement plan regs

Whether your plan is subject to ERISA, the Employee Retirement Income Security Act, or not, new federal regulations make ALL plan sponsors subject to personal fiduciary liability as of July 16, 2011. On that date, regulation 408(b)(2) goes into effect, requiring plan fiduciaries to understand total plan fees and whether or not they are appropriate for the services rendered. Are you prepared?

• New Fiduciary Responsibilities and Administrative Requirements – The new rules will subject nonprofit employers to increased fiduciary and administrative oversight. New compliance requirements include monitoring, documenting and approving transactions, as well as maintaining a plan document.
• New Reporting and Filing Requirements – Your plan may now be subject to a full 5500 filing and annual audits for the first time.
• Universal Availability – You must provide meaningful communication to employees about their right and eligibility to make elective deferrals and how to access the plan.

To avoid becoming subject to fines and other plan penalties, learn your role as a Responsible Employer and Plan Fiduciary under the Final Department of Labor and Internal Revenue Service regulations. Learn what you need to do to be better fiduciary to your plan.

Wealth Managing Partners will host a complementary luncheon symposium from 11:30 a.m. to 1 p.m. on Friday, Feb. 18, at the Pacific Club. Free parking is available. Seating is limited. RSVP by Feb. 11 – send an email with your contact information to john@wm-partners.com.

Wealth Managing Partners is a locally based team of retirement plan specialists providing comprehensive solutions to client retirement plan issues for 403(b), 401(k), 457 and defined benefit plans. For more details, contact John MacGregor, (808) 954-7064 or john@wm-partners.com.