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Webinars for Plan Sponsors

May 14, 2019 Webinar: Designated Investment Alternatives (DIA)

  • Fiduciary status and duties
  • Fiduciary responsibility for selecting and monitoring plan's DIA
  • Role of investing policy statement
  • Taraget Date funds
  • Delegating investment duties to Fiduciary

January 31, 2019 Webinar: Hardship Distribution Rules

  • Hardship rules found in 401(k) regulations
  • Immediate and heavy financial needs
  • Distributions necessary to fulfill those needs
  • Hardship distributions made prior to January 1, 2019

October 23, 2018 Webinar: Years of Service

  • Methods for determining hours of service
  • Eligibility
  • Allocation conditions
  • Vesting

June 20, 2018 Webinar: Auto-Enrollment & Re-Enrollment

  • Background of automatic enrollment and escalation
  • Challenges of adding these features to your Plan
  • Re-enrollment strategy for deferral or investment election
  • Investment reset strategy
  • Correcting auto-enrollment errors

Fiduciary Webinars: 4-part Series

Federal law requires retirement plan sponsors to understand and manage their fiduciary responsibilities under ERISA. If your plan is selected for audit by the Department of Labor, you will likely be asked if the plan’s fiduciaries have received fiduciary training.

To assist you with understanding and meeting your fiduciaries obligations, Union Bank & Trust has presented a four-part series of Fiduciary Training webinars. We have recorded each webinar in this series, and have made the recordings available online. Each recording will run for approximately one hour.

Part I - Fiduciary Basics

  • A basic overview of who is a fiduciary under a retirement plan
  • The types of actions that will be subject to ERISA’s fiduciary rules
  • How fiduciary rules are enforced by the Department of Labor

Part II - Investments

  • Tips on how to select and monitor DIAs and the role of an investment policy statement
  • How to use Union Bank’s PIP report to help prudently select and monitor the plan’s DIAs
  • An explanation of the benefits of complying with ERISA Section 404(c), and the role of a qualified default investment alternative

Part III - Reporting and Disclosure

  • The primary reporting and disclosure requirements that must be satisfied under ERISA and the Internal Revenue Code
  • How to ensure the plan’s participant enrollment kit contains the required documents
  • The framework for providing participant disclosures in electronic format

Part IV - Minimizing Liability

  • Specific steps a plan sponsor can take to minimize the liability of sponsoring a retirement plan. These steps include: (a) having a thorough knowledge of your plan; (b) being aware of the types of plan design features that complicate plan administration; and (c) understanding the focus of a DOL or IRS audit.
  • Concludes with a discussion of how to conduct a self-audit of the plan, and the role of fiduciary liability insurance in minimizing fiduciary liability

Investment products: Not FDIC Insured - No Bank Guarantee - May Lose Value.