Description

• Give the payroll professional an overview of several different types of deferred compensation plans and how it affects payroll
• Review non-discrimination testing and why it is so important
• What is the difference between a Defined benefit plan and defined contribution plan
• Understanding annual contribution limits and catch-up limits

A basic review of the deferred compensation IRS section # and what they mean in regards to how plans must be run to keep the tax benefits.

Why should you attend?

• Understanding the difference between Defined Benefits Plans and Defined Contribution Plans
• Details around both qualified and non-qualified plans plus what is the difference of each
• How to properly report plans to the IRS and employees on the W-2
• What is discrimination testing and how it impacts a company?
• What is the importance of the annual limits?

Background of the topic:

Employers have a wide range of deferred compensation plans they can provide employees as a method to save for retirement.  The impacts to payroll can range and understand the differences between all the different plans can be very confusing for the payroll professional.  This webinar will help the payroll professional be better at understanding commonly used plans and how in payroll these plans affect them.

 Areas Covered in the Session:

• Qualified Pension and Profit Sharing Plans (IRC 401 (a))
• Defined Benefit Plans
• Defined Contribution Plans
• Annual Limits
• Catch-up Contributions
• Discrimination Testing
• Cash or Deferred Arrangements (IRC 401(k))
• Tax Sheltered Annuities (IRC 403(b))
• Deferred Compensation Plans for public sector and Tax-exempt groups (IRC 457(b))
• Employee Funded Plans (IRC 501(c)(18)(D))
• Non-qualified Deferred Compensation Plans

Who will benefit:

• Payroll HR Professionals 
• Accounting professionals 
• Compensation Professionals