Course Details

Pension Law & Compliance Training: Navigating the Legal Landscape of Retirement Benefits

INTRODUCTION

Pension plans are subject to complex legal and regulatory requirements designed to protect plan members and ensure the long-term sustainability of retirement benefits. This Pension Law & Compliance training course provides a comprehensive understanding of the legal framework governing pension plans, covering key legislation, regulations, compliance procedures, fiduciary responsibilities, and reporting requirements. Participants will learn about ERISA, relevant tax laws, reporting obligations, and best practices for ensuring compliance in pension plan administration. This essential legal and compliance training is crucial for HR professionals, benefits administrators, legal counsel, and anyone involved in the management of pension plans. This course covers key areas like ERISA, tax laws, reporting requirements, and fiduciary responsibilities, empowering you to become a knowledgeable and compliant pension plan administrator.

DURATION

5 days

TARGET AUDIENCE

This course is designed for a broad audience, including:

• Human Resources Professionals: HR managers, benefits administrators, and compensation specialists.
• Legal Counsel: Attorneys specializing in employee benefits and pension law.
• Compliance Officers: Individuals responsible for ensuring compliance with pension regulations.
• Pension Plan Administrators: Individuals managing the day-to-day operations of pension plans.
• Anyone involved in pension plan management: Individuals wanting to gain a deep understanding of the legal and regulatory aspects of pension plans.

COURSE OBJECTIVES

Upon completion of this course, participants will be able to:

• Understand the key legislation and regulations governing pension plans (ERISA, etc.).
• Interpret and apply relevant pension laws to plan administration.
• Ensure compliance with reporting and disclosure requirements.
• Understand fiduciary responsibilities and avoid prohibited transactions.
• Manage pension plan audits and investigations.
• Stay current with changes in pension law and regulations.
• Identify and mitigate legal risks in pension plan management.
• Develop and implement effective compliance programs.

COURSE MODULES

• Introduction to Pension Law and Compliance:
• Overview of the legal and regulatory framework for pension plans.
• Key legislation impacting pension plans (ERISA, REA, PPA, etc.).
• The role of government agencies (DOL, PBGC, IRS) in pension oversight.
• Importance of compliance for plan sponsors and plan members.
• Employee Retirement Income Security Act (ERISA):
• Title I of ERISA: Protection of employee rights and benefits.
• Title II of ERISA: Tax provisions related to qualified plans.
• Title III of ERISA: Administration and enforcement.
• Title IV of ERISA: Plan termination and PBGC coverage.
• Qualified Plan Requirements:
• Minimum participation and coverage requirements.
• Vesting schedules and benefit accrual rules.
• Nondiscrimination testing and compliance.
• Top-heavy rules and other qualification requirements.
• Fiduciary Responsibilities:
• Definition of a fiduciary under ERISA.
• Fiduciary duties of prudence, loyalty, and diversification.
• Prohibited transactions and conflicts of interest.
• Liability and penalties for fiduciary breaches.
• Reporting and Disclosure Requirements:
• Annual reports (Form 5500) and other required filings.
• Summary Plan Descriptions (SPDs) and other disclosures to plan members.
• Notice requirements for plan changes and events.
• Penalties for non-compliance with reporting requirements.
• Plan Administration and Compliance Procedures:
• Plan documents and amendments.
• Enrollment and eligibility requirements.
• Contributions and benefit distributions.
• Recordkeeping and documentation best practices.
• Plan Audits and Investigations:
• DOL and IRS audits of pension plans.
• Preparing for and responding to audits.
• Common audit findings and compliance issues.
• Best practices for internal controls and compliance monitoring.
• Emerging Legal and Regulatory Issues:
• Impact of legislative changes on pension plans.
• Cybersecurity and data privacy in pension administration.
• Litigation trends and legal challenges in the pension context.
• The future of pension law and compliance.

 CERTIFICATION

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

• Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

• Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

• Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com