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A. Qualified Plan Provisions – qualified
plan requirements, tax incentives for qualified plans, eligibility
and coverage requirements, age and service requirements, ratio percentage
test, non-discrimination rules, ADP tests, ACP tests, highly compensated
employees, non-highly compensated employees, average benefit percentage
test, 50/40 test, qualified plan compensation limit, defined benefit
limits, employee contribution limits, employee elective 401k deferral
limits, distribution provisions for defined benefit plans, distribution
provisions for defined contribution plans, cost basis determination,
five-year averaging for lump sum distributions, requirements for
five-year averaging, requirements for ten-year averaging, qualified
domestic relations orders, early distribution penalties, minimum
distribution penalties, distributions to non-spouse beneficiaries,
surviving spouse beneficiaries, qualified plan fiduciary, non-fiduciary
service providers, ERISA obligations of fiduciaries, parties in
interest, prohibited transactions, fiduciary’s responsibilities,
integration, excess and offset methods, maximum disparity, regular
and top-heavy vesting requirements, five-year cliff vesting, three-to-seven
year graduated vesting, top-heavy plans, key employees.
B. 401(k) and 403(b) Plans – advantages of
401k plans, salary reduction features, thrift plans, age-targeted
plans, target benefit plans, age-based profit sharing plans, new
comparability plans, loan guidelines, spousal benefits, joint and
survivor annuities, 403b tax-deferred annuities, 403b catch-up provisions,
403b vesting guidelines, 403b investment holdings, tax implications
of 403b plans.
C. Individual Retirement Accounts – definition
of IRAs, limits for IRA contributions, advantages of IRAs, IRA distributions,
active participant determination, prohibited transactions, disqualified
persons, prohibited investments, Roth IRAs, distributions from Roth
IRAs, contributions to Roth IRAs, conversions from traditional IRAs
to Roth IRAs, qualified rollover contributions, minimum distribution
rules of Roth IRAs, education IRAs, qualifying education expenses,
gift tax consequences.
D. Pension & Profit Sharing Plans – pension
vs. profit sharing plans, characteristics of defined benefit plans,
formula for benefit determination, terminations of defined benefit
plans, Pension benefit Guaranty Corporation, cash balance pension
plans, characteristics of defined contribution plans, money purchase
pension plan, profit sharing plans, forfeiture allocations, stock
bonus plans, employee tax advantages, employee stock ownership plans.
E. SIMPLE, SEP & Keogh Plans – characteristics
of SIMPLE plans, requirements for SIMPLE plans, contributions to
SIMPLE plans, distributions from SIMPLE plans, characteristics of
SEP plans, limits of SEP plans, advantages of SEP plans, distributions
from SEP plans, coverage requirements of SEP plans, Keogh plans,
advantages of Keogh plans, types of Keogh plans, earned income considerations,
maximum deductions for Keogh plans.
F. Social Security & Employee Benefits –
individuals covered, currently vs. fully insured, types of benefits,
disability insurance, advantages of cafeteria plans, non-discrimination
requirements for cafeteria plans, excluded benefits from cafeteria
plans, split dollar life insurance, endorsement ownership, collateral
assignment.
G. Non Qualified Plans – contributions and
distributions from Section 457 plans, deferred compensation plans,
rabbi trusts, incentive stock options, non-qualified stock options,
phantom stock plans, voluntary employees’ beneficiary associations.
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