David Levine will participate in a Thompson sponsored audioconference, “Obama Administration Savings Initiative – What Does It Mean for Plan Sponsors?”, on November 4, 2009, 2:00pm – 3:30pm ET.
With most senior Obama administration retirement personnel now in place the Obama administration has begun to focus on expanding the coverage and usage of retirement savings programs through its Savings Initiative. The IRS recently released several pieces of guidance to move the Savings Initiative forward, including the following:
- Guidance that explains how 401(k) plans can make it easier for employees to automatically enroll in 401(k) plans.
- Guidance to make it easier for employees to contribute payments for unused vacation or sick time to their 401(k) plans when leaving their jobs.
- Guidance on “plain English” communications relating to rollover distributions.
With more guidance certain to come and other savings related initiatives, like the deemed IRA, on the horizon, it is important to stay on top of this rapidly changing landscape.
This 90-minute interactive audio conference will help plan administrators understand what they need to amend their current plans and take advantage of the new plans to boost enrollment and to adapt as further guidance is issued.
- How can employers take advantage of the new guidance to increase automatic enrollment?
- How can employers increase contributions through the conversion of accrued vacation leave?
- How do the new rulings affect current plan participation?
- When do you have to implement the new changes under the IRS rules?
- How do you need to update communications?
- How should administrators work with their vendors to address these rule changes?
Visit www.thompsoninteractive.com for registration information.