Thursday, February 2, 2023
8:00 AM - 8:15 AM Networking Opportunity
8:15 AM - 8:30 AM Welcome from Lisa Monsein
8:30 AM - 8:55 AM Legal Update and Q&A with Deb Najjar
9:00 AM - 10:30 AM Program
Approved for 1.50 SHRM and HRCI credits
TOPIC: "The 401k 411" - Everything You Need to Know About Your Retirement Plan....That No One Tells You!"
The 401(k), together with other versions of company sponsored retirement plans, have evolved into a key employee recruiting and retention tool. Retirement plans of this variety have become central to employee benefits packages, yet are widely misunderstood by company staff charged with offering and administering these plans. They are regulated according to ERISA (Employee Retirement Income Security Act), and are the focus of two governmental agencies, and sadly the legal community as well. The number of 401k/403b lawsuits has increased 4-fold in the last 2 years, with signs of escalating. Larger company plans have mostly been targeted so far, but smaller plans are certain to join. Not only will companies, found to be deficient in administering plans, suffer damages, but the people considered fiduciaries will be held personally liable.
➢ Breakdown legalese of ERISA into easier-to-understand terms.
➢ Better understand the responsibilities and liabilities, both personal and company, of running a Retirement Plan.
➢ Clearly define the various roles in running ERISA based plans.
➢ Steps to properly administering a retirement plan to provide maximum benefit to employees and avoiding liability for the Fiduciaries and the company.
➢ Execute a step-by-step approach to reviewing a plan to identify any areas of concern and address them properly.
➢ Help promote engagement from both the HR team and the employees in the retirement plan.
This is a somewhat dry but obviously very important topic. We approach this presentation with relevant and current facts, along with stories and examples that will promote a thoughtful and engaging discussion. Our goal is to raise awareness among plan fiduciaries of the potential liabilities of mistakes in plan implementation and administration, and how to enhance plan performance for the benefit of employees and the company.
Our speakers: James Holland and Michael Graff of ProIncome
James Holland is a partner, Assistant Compliance Officer, and Director of Business Development for MIRA. He is one of the three inventors of the PlanAnalyzer, which is the only patented investment evaluation tool available in the industry. James also does expert consulting for ERISA litigation for both the Plaintiff’s Bar and defense council. He has spoken at dozens of SHRM events throughout the country. James & MIRA also do extensive work with plan sponsors who have issues before the Department of Labor and the I.R.S. He is a 1990 Graduate of Ohio Wesleyan University, where he received a B.S. in Economics Management and holds an MBA from Jack Welch Institute.
Mike Graff is founder and principal advisor of ProIncome, an independent financial advisory firm. He is a fiduciary with a Series 65 Securities License and is the author of the book “6 Steps to Retirement” that details his proprietary 6 steps retirement planning process. His experience in the financial services industry spans 38 years and includes extensive experience in retirement, tax, and IRA planning. He is a Certified Tax Advisor®, National Social Security Advisor, holds a Certificate in Financial Planning from Bryant University, and is a recent graduate of the American College of Financial Services, earning the Chartered Financial Consultant® Designation. Mike is also a regular public speaker on retirement, tax, Social Security, and investment topics.
Our Sponsor: Interesting in Sponsoring? Contact Julie Moore at firstname.lastname@example.org or Lisa Lemieux at email@example.com
For more information:
Contact: Caitlin Clary