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Sponsored by Lorman Education
Product ID: 409450EAU
 
Credit & Course Provided by:

Understanding 401(k) Plan Automatic Enrollment

OnDemand Webinar (58 minutes)

Understand the benefits of automatic enrollment and the compliance issues that may affect it.Studies show that implementing automatic enrollment is one of the most effective ways to increase participation and improve nondiscrimination testing. This course will describe the benefits of automatic enrollment, give a primer on automatic enrollment administration, and provide an update on recent legislation and compliance issues affecting automatic enrollment. The material will also explain the automatic enrollment structure and differences between general automatic contribution arrangements (ACAs), eligible automatic contribution arrangements (EACAs), and qualified automatic contribution arrangements (QACAs).

Authors

Adam M. Zuidema, Esq., Stevens & Lee

Agenda

Overview

• Automatic Enrollment Legal Background

• Benefits of Automatic Enrollment

- Participation Rates

- Nondiscrimination Testing

Types of Automatic Enrollment

• Basic Automatic Contribution Arrangement (ACA)

• Eligible Automatic Contribution Arrangement (EACA)

• Qualified Automatic Contribution Arrangement (QACA)

Automatic Enrollment Structure

• Safe Harbor vs. Non-Safe Harbor

• Eligibility

• Default Elective Deferral Rates and Automatic Increases

• Employer Contributions

• Default Investments

Automatic Enrollment Administration

• Enrollment

• Notice and Election Requirements

• Permissible Withdrawals

• Default Investments and Fiduciary Concerns

• Nondiscrimination Testing

Compliance and Legal Updates

• Correcting Automatic Enrollment Errors

• Recent Legislation and Guidance

• Future of Automatic Enrollment