Risk Management Strategies for Business Owners for New Department of Labor Fee Disclosure Rules

Today our firm and Mike Cavanaugh and Tim Webb, Registered Investment Advisors at Know Your Options, Inc., sponsored a special briefing for corporate attorneys on the new fee disclosure regulations impacting their clients.

Our briefing at the University of Chicago Gleacher Center was provided  to help them provide their clients with the guidance and strategies necessary to successfully manage their fiduciary responsibilities.

Special thanks to our Guest: Speaker Attorney Tim McCutcheon, General Manager of ftwilliam.com , Wolters Kluwer Law & Business.

Our presentation follows: 

The New Retirement Plan Fiduciary Environment

Posted In 401(k) Plans , Audio/Visuals , Fiduciary Issues , Seminars and Speaking Engagements
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The New World of 403(b) and 457 plans

That’s a map of the New World circa 1540 by Sebastian Munster, a German cartographer. It depicts the European view about the New World and especially North America.

It’s my visual metaphor about where the 403(b) and 457 markets are now – almost three years after the final regulations became effective January 1, 2009.

The final regs have become the focal point for a new and rapidly changing 403(b) and 457 world.  One in which the Old was a 40-plus year old environment characterized by limited employer involvement done on a retail basis. The New is becoming one with ERISA-like best practices in an institutional setting.

That was the theme of my presentation on October 7, 2011, a part of the course at John Marshall Law School, L.L.M. in Employee Benefits Program, “Non-Traditional Retirement Programs", which follows:  

John Marshall Law School 403(...

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This was year three of this program which has been organized and led by attorney Bob Toth who regularly comments on 403(b) and other retirement plans on his blog, The Business of Benefits.

Posted In 403(b) Plans , Seminars and Speaking Engagements
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403(b) and 457 Seminar at John Marshall Law School

Last month, I participated in a seminar at the John Marshall Law School, "New Rules for Non-Traditional Retirement Plans", as part of the Law School's LLM Program in Employee Benefits.

The seminar was led by attorney Bob Toth with whom I collaborated in our 403(b) Crunch Time Series. Bob is considered one of the leading experts on 403(b) plans, 457 plans, and the annuitization of 401(k) Plans. He blogs at his firm'sBusiness of Benefits blog.

The seminar was first given in October, 2009, my presentation slides for which are posted here. Here's my 2010 presentation which discussed the new 403(b) rules one year later. 

Jerry Kalish for John Marshall Law School 403(b) Course-Oct2010

Posted In 403(b) Plans , Seminars and Speaking Engagements
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403(b) and 457 "Lunch and Learn" at John Marshall Law School

Today I presented a "Lunch and Learn" about 403(b) and 457 retirement plan for the students at John Marshall Law School. It was a preview to the two day seminar on October 8 and 9, 2010 in which I will be participating. It's called "New Rules for Non-Traditional Retirement Plans", as part of the Law School's LLM Program in Employee Benefits.

I'll post the seminar presentation later, but in the meantime, here is today's effort. 

John Marshall Law School "Lunch and "Learn" 403(b)

Posted In 403(b) Plans , Audio/Visuals , Seminars and Speaking Engagements
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Report from the 5th Annual Employee Benefit Advisers Forum

Earlier this week, over 125 brokers, consultants, advisers attended the 5th Annual Employee Benefit Adviser Summit in Boca Raton, Florida. Looking Into The Future: What You and Your Clients Will Look Like.  

Here's a link to Employee Benefit Adviser's report, Advisers Find Opportunities in Change at EBA Summit. My own presentation at one of the breakout sessions, Looking Into The Future: What Your Clients and Your Business follows: 

Employee Benefit Adviser Summit - September 28, 2010

 
 
Posted In 401(k) Plans , Audio/Visuals , Seminars and Speaking Engagements
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403(b) and 457 Seminar at John Marshall Law School

On October 31 and November 1, I participated in a seminar at the John Marshall Law School, "New Rules for Non-Traditional Retirement Plans", as part of the Law School's LLM Program in Employee Benefits.

The seminar was led by attorney Bob Toth with whom I collaborated in our 403(b) Crunch Time Series. Bob is considered one of the leading experts on 403(b) plans, 457 plans, and the annuitization of 401(k) Plans. He is Of Counsel with Giller & Calhoun and blogs at his firm's Business of Benefits blog.

Bob asked me to discuss some of the practical aspects of dealing with 403(b) and 457 plan sponsors with the law students who had great interaction with all of the presenters over the entire seminar. Since my presentation came at the end of a long day of tax law discussions, I started on a lighter note. Take a look:

 

New Rules for 403(b) and 457 Plans

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Posted In 403(b) Plans , Audio/Visuals , Seminars and Speaking Engagements
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Life Insurance in Qualified Retirement Plans: Presentation to Lake County Estate Planning Council

I was honored to be a guest speaker today to The Lake County Estate Planning Council. The group is an interdisciplinary organization for professionals involved in estate planning to better serve the needs of the public in estate planning.

The title of my presentation is:

LIFE INSURANCE IN QUALIFIED RETIREMENT PLANS:
The Impact of the New Economic Realities on Business Owners, Employees, Beneficiaries and Financial Service Providers

Here it is:

 Life Insurance in Retirement Plans

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Posted In 401(k) Plans , Audio/Visuals , Defined Benefit Pension Plans , Seminars and Speaking Engagements
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Department of Labor sponsoring fiduciary compliance assistance seminar for small businesses

Unless you've been asleep, compliance with fiduciary responsibilities is one of the highest priorities of the U.S. Department of Labor (DOL).

And if you're a small employer, it can be a difficult and challenging assignment to be responsible for a retirement plan. But here's some help.

The DOL will be sponsoring a free seminar in Chicago on June 24 and in Atlanta on July 9: A Retirement Plan Compliance Assistance Seminar for Small Business.

Representatives from both the DOL and Internal Revenue Service will discuss fiduciary responsibilities, reporting and disclosure requirements, common mistakes and how to fix them.

Here are links to the seminar brochure and registration information for each location:

For Chicago on June 24 and for Atlanta on July 9.

If you're a local plan sponsor in either of these areas, attendance could be very worthwhile.

Posted In 401(k) Plans , Seminars and Speaking Engagements
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Defined benefit plan seminar handout available for download



Here is the link to my presentation handout (43 pages, PDF) for the August 5, 2008 Seminar, Defined Benefit Pension Plans: What's Old is New Again and better than ever. This was a 3 hour continuing education seminar sponsored by the Lanny D. Levin Agency, Inc., a General Agent for the Guardian Life Insurance Company.

If you're wondering about the picture up top, that's Fleetwood Mac ("new website coming soon") who after many years apart are getting back together and will be touring next year. And just like defined benefit pension plans: what's old is new again and better than ever.

Posted In Cash Balance Plans , Defined Benefit Pension Plans , Publications , Seminars and Speaking Engagements
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Defined Benefit Pension Plan Seminar for Financial Advisers

On Tuesday, August 5, 2008, I will be a co-presenter at the following seminar:

"GUARDIAN UNIVERSITY"
Tuesday, August 5, 2008
THE LANNY D. LEVIN AGENCY, Inc.

DEFINED BENEFIT PENSION PLANS:
WHAT’S OLD IS NEW AGAIN - And Better Than Ever!

(3 hours CE credit approved for Illinois Insurance Producers)

Speakers:
Jerry Kalish, National Benefit Services, Inc.
Lanny D. Levin, CLU, ChFC, LANNY D. LEVIN AGENCY, Inc.

Some of the topics:
  • Legal and IRS update on 412(i) Plans [now 412(e)(3)]
  • Larger deductions for traditional defined benefit plans under new funding rules
  • The “green light” given to cash balance plans by the Pension Protection Act
  • How profit sharing/401(k) plans can be combined with cash balance defined benefit plans to leverage significant benefits for owners and highly compensated employees
  • How life insurance fits into all three types of defined benefit pension plans
  • Case histories
Coffee & Rolls at 8:00 a.m.
Class begins promptly at 8:30 a.m. (ends at 11:30 a.m.)
Oakton College Business Conference Center, Golf Road, Des Plaines (just west of I-294)


Enroll here, or
FAX registration form (PDF), or
Call Allen Flynn (847) 266-2243 or Email allen_flynn@levinagency.com
(Your Associates and Professional Advisors are also welcome)
Posted In Cash Balance Plans , Defined Benefit Pension Plans , Seminars and Speaking Engagements
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ESOP as an Exit Strategy: Presentation to Chicago Bar Association Financial Institution Committee

See full-size image.

Exit strategies for business owners - particularly the baby boomers - is a matter to which they are giving increased attention. And so are their attorneys. Yesterday I participated in a continuing education program sponsored by the Financial Insitution Committee of the Chicago Bar Association for its members on this topic.

Our particular focus was ESOP as an Exit Strategy. I was joined by Grant McCorkhill, a Partner at Holland & Knight who specializes in transactional matters; and David Blum, a commercial banker and Vice President of First American Bank, an ESOP lender. We discussed:

  • Exit Strategies for the Business Owners
  • ESOP Essentials
  • How an ESOP Gets Done

Click here to download a copy of our presentation (PDF, 20 pages).

Posted In Employee Stock Ownership Plans , Publications , Seminars and Speaking Engagements
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Conference of State Bank Supervisors Trust Forum

I am honored to be a guest speaker at the 2008 Trust Forum sponsored by the Conference of State Bank Supervisors (CSBS) in San Antonio  on April 14-16, 2008. The CSBS is the national organization for state bank supervisors, and the nations leading advocate for the state banking system. The Trust Forum is the annual gathering of approximately 50 state bank examiners who supervise trust departments of banks and independent trust companies in their respective states.

The title of my presentation is:

The Pension Protection Act of 2006 and the Changing Financial Services Industry: New Challenges for State Bank Examiners.

I'm looking forward to meeting the attendees.
Posted In Pension Protection Act of 2006 , Seminars and Speaking Engagements
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No phone, no email, no fax, no worries. Priceless

Public Employee and Union Benefit Conference



I am honored to be a guest speaker at the 2007 Annual V3 Users Conference which is taking place in Palm Coast, Florida on June 6 - 8, 2007. The conference is being sponsored by Vitech Systems Group , a provider of public retirement and multi-employer benefit administration software for users of their V3 Benefits Administration System, an enterprise software solution designed specifically for the needs of public retirement systems.

The title of my presentation is:

THE PENSION PROTECTION ACT OF 2006:
New Challenges and Opportunities for Plan Sponsors, Their Employees, and the Administrators Who Make Their Benefit Programs Work


Vitech expects approximately 120 Fund Administrators, Trustees, heads of IT, and other users of the software. I look forward to this opportunity to meet people who are involved with this rapidly changing part of the benefits world.


Posted In Public Employee Plans , Seminars and Speaking Engagements
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Independent contractor or employee: a teleconference on the practical side

Last month, I wrote about the importance of correcting classifying your workers: independent contractors or employees. The IRS publication to which I included a link told you the rules. Now here is an opportunity to learn in a very practical way how to win audits on independent contractor status from Nancy Joerg, a shareholder and senior attorney, in the law firm of Wessels & Pautsch, P.C., a Midwest-based law firm that represents employers in labor and employment matters. Ms. Joerg is conducting a teleconference on Thursday, February 15, 2006, called "How to Win IDES Audits on Independent Contractor Status".

The IDES, the Illinois Department of Employment Security, is the Illinois state agency that audits companies to see whether their workers should be reclassified from independent contractor status to employee status. While the focus is obviously Illinois companies, non-Illinois employers may also find this teleconference helpful.





 

Posted In Seminars and Speaking Engagements
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Pension Protection Act Seminar



"GUARDIAN UNIVERSITY"
Tuesday, November 7, 2006

Lanny D. Levin Agency, Inc,
presents

Pension Protection Act of 2006:
Challenges and Opportunities

(3 hours CE credit applied for)

Speakers:
Jerry Kalish, National Benefit Services, Inc.
Lanny D. Levin, CLU, ChFC, LANNY D. LEVIN AGENCY, Inc.

Some of the topics:
  • Extension of EGTRRA Provisions
  • Retirement Plan Provisions
  • Long Term Care Provisions
  • New 401(k) Safe Harbors
  • New Rules on Taxation of Employer-Owned Life Insurance
  • Charitable Rollover Rules
  • New Distribution Rules for Non-Spousal Beneficiaries
Coffee & Rolls at 8:00 a.m.
Class begins promptly at 8:30 a.m. (ends at 11:30 a.m.)
Oakton College Business Conference Center, Golf Road, Des Plaines (just west of I-294)


Here is the link to the registration form (PDF), or
Call Phyllis Scholnick (847) 266-2243 or Email phyllis_scholnick@levinagency.com
Posted In Pension Protection Act of 2006 , Seminars and Speaking Engagements
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401(k) Webcast for Lorman Education Services on October 10

Here is the information on the webcast I will be presenting for Lorman Educational Services, a leading provider of continuing educational programs in the United States and Canada.

Managing Your 401(k) Plan: Current Considerations and New Challenges
Date: Tuesday, October 10, 2006
Time: 1:00 pm ET (12:00 pm CT, 11:00 am MT, 10:00 am PT)
Length: 1 hour 30 minutes
Agenda:
  • Current fiduciary issues
  • Current operational issues
  • Current regulatory concerns
  • Year End Planning
  • Overview of the recently passed Pension Protection Act of 2006
Continuing Education Credits are available.
Click here for additional information and the registration form. Posted In Seminars and Speaking Engagements
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Retirement Plan Workshop for New England Financial on September 8

I will conducting a workshop for the Associates of New England Financial on Friday, September 8, 2006. The Associates of the Northbrook, IL firm specialize in personal and business financial programs, with emphasis on estate growth, wealth accumulation strategies, minimizing taxes, employee benefits, and maintenance of business interests.

My topic will be Targeting The Retirement Plan Market focusing on how Associates can help business owners accomplish their retirement plan objectives and in the process:
  • Add value to client relationships
  • Prospect, qualify and close retirement plan business
  • Use retirement plans to grow individual clients
The workshop will include an overview of how the new Pension Protection Act of 2006 can be an important planning tool for their client retirement plans. The meeting runs from 10:00 a.m. to 12:00 p.m. in their offices in Northbrook, IL. Posted In Seminars and Speaking Engagements
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My Roth 401(k) Presentation

I'm active providing continuing education seminars, a number of which are sponsored by The Lanny D. Levin Agency, a Guardian General Agency, for its brokers. Here is an abbrevated version of my recent Roth 401(k) presentation (PDF download) requested by a number of brokers unable to attend.

Thanks again to Lanny Levin, the Agency's owner, for the opportunity to present. Posted In 401(k) Plans , Seminars and Speaking Engagements
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