HR On-Demand | Exploring the use of PEPs to eliminate the 401(k) Audit

Copy-of-PEP-Webinar-1-771x400 HR On-Demand | Exploring the use of PEPs to eliminate the 401(k) Audit

This session will focus on the use of Pooled Employer Plans (PEP) to eliminate the the burden and expense of 401(k) plan audits. The speaker will address the evolving IRS and DOL regulations, the employer’s fiduciary duty, and a roadmap to the optimal PEP.

Learning Objectives:

  • Identify the difference between a stand-alone plan, MEP and PEP.
  • Apply the annual audit requirements to each plan type, and explore methods to eliminate the audit burden.
  • Understand when a PEP is a fit, and how to optimize them with a strategic business purpose in mind.

Richard-1-400x400 HR On-Demand | Exploring the use of PEPs to eliminate the 401(k) AuditMeet the Presenter

Richard Phillips, EA, AIF, CPC, QPA, QKA / CEO ERISA Consultants

Richard is the founding principal of ERISA Consultants. He brings over 30 years’ experience to the effective design, consulting, and management of 401(k) plans. Richard holds a Bachelor’s of Science in Business Administration with a concentration in Banking and Finance, and a minor in mathematics. Richard is an Enrolled Agent (EA) admitted to practice before the IRS, an Accredited Investment Fiduciary (AIF) who adheres to a strict interpretation of a fiduciary. He is also a Certified Pension Consultant (CPC), Qualified Pension Administrator (QPA), and Qualified 401(k) Administrator (QKA) and is a member of the American Retirement Association. Richard has contributed case studies for the American Law Institute-American Bar Association’s advanced pension program. He has also provided continuing education programs for CPA groups and has lectured on plan design techniques for medical groups at the RBMA Education Conference.

Richard has served as co-chair of the Retirement Plan Academy, the division of the American Retirement Association that provides education and training to more than 16,000 members. As co-chair he oversaw the development of training and educational programs for entry-level staff up to senior level consultants, as well as continuing education programs, webinars and publications.

Richard has served as a subject matter expert to the Retirement Plan Academy on coverage testing under IRS Code §410(b) and investments. Prior to becoming co-chair of the Retirement Plan Academy, he lead a team to revise and update the investment curriculum of the Certified Pension Consultant program. He also chaired the committee tasked with revamping the curriculum of the Qualified Plan Financial Consultant (QPFC) program, a high level training program for advisors working in the qualified plan arena.

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