Fixing Broken Retirement Plans

New England ASPPA Benefits Council
May 3, 2018

David Guadagnoli led an interactive discussion of retirement plan operational problems and solutions entitled, "Fixing Broken Retirement Plans," sponsored by the New England ASPPA Benefits Council. Designed for plan sponsors, consultants and third-party administrators, the program addressed various "real world" problems frequently encountered and a bevy of issues less frequently encountered that nonetheless have the potential to jeopardize plan qualification, including benefits, rights and features in controlled groups, using QSLOB and 410(b)(6)(C) transition relief (and the limits of each), Puerto Rico (and dual qualified) plans and restorative payments. 

David addressed the pros and cons of self-correction vs. the use of IRS/DOL correction programs, and the tax and ERISA fiduciary considerations behind various approaches. He also included some insights into plan design considerations and recent legislative changes. 

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