Sessions For May 7

07

Tuesday
7:30AM-8:20AM

EBP19201. EBPAQC Update

Instructor: James Haubrock, Ian MacKay
Track: Industry Update
Knowledge Level: Basic
Field of Study: Auditing
CPE Credits: 1.0

Learn about new resources and tools from the Employee Benefit Plan Audit Quality Center. Help your firm apply best practices and achieve efficiencies in your EBP audits. Learn how to network in the EBP audit community to enhance your audit quality.

Learning Objectives:

  • Select EBPAQC tools to perform efficient EBP audits.
  • Recall best practices to improve audit quality.

07

Tuesday
7:30AM-8:20AM

EBP19202. Beyond the Audit: AICPA Resources

Instructor: Kristin Esposito, Kelly Davis, Wayne Kamenitz, Chris Shankle
Track: Industry Update
Knowledge Level: Basic
Field of Study: Taxes
CPE Credits: 1.0

The AICPA has a wealth of resources for many aspects of ERISA and retirement planning. AICPA staff and members will review these resources to give participants familiarity with what they can offer for a vibrant ERISA practice or to plan sponsors for use by internal accounting or human resources staff – or even plan participants.

Learning Objectives:

  • Identify tools from the AICPA Tax Technical Resource Panel
  • Recall tax advocacy initiatives
  • Identify AICPA Tax Section tools
  • Identify AICPA Financial Literacy tools for plan sponsors and plan participants

8:20AM-8:30AM

07

Tuesday
8:30AM-9:45AM

EBP1926. (Is the Future Behind) Door #1, Door #2, or Door #3?

Instructor: Rebecca Ryan
Track: Keynote
Knowledge Level: Overview
Field of Study: Personal Development
CPE Credits: 1.5

If you knew the future, how would you lead your firm or change your strategy? Most of us use foresight every day, but we don’t realize it so we don’t think about how we anticipate the future. In this presentation, futurist and economist Rebecca Ryan takes you behind the scenes to show you:

Learning Objectives:

  • How futurists think about EVERY problem…and how you can think like a futurist about your firm, your career, your role and beyond
  • How “everyday people” like math teachers and postal workers fine-tune their foresight skills and outperform the Department of Defense in making predictions
  • Which future scenarios your firm must consider, to be ready for anything
  • About Rebecca – Rebecca Ryan has been named a “Top 100 Most Influential” by Accounting Today and a “Thought Leader” by CPA Practice Advisor. She’s a former partner with The Advisory Board and worked with Top 200 firms on human resource strategy and foresight.

07

Tuesday
10:15AM-11:30AM

EBP1927. Contributions, Eligibility and Participant Data, Part I

Instructor: Gwen Stoute Bryant, Tiffany White, Sara Wilson
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing
CPE Credits: 1.5

This session is part 1 of 2 that focuses on the testing of eligibility, participant data and contributions for the fundamentals track case study, including discussion of common errors found in these areas. This session will be continued in Session #34.

Learning Objectives:

  • Identify the various contribution types that are typical in a defined contribution plan, review the annual limits, and understand the participant and employer contributions based on the fundamental track case study's plan provisions, considering eligibility and eligible compensation for each type of contribution
  • Recall the risk assessment of relevant assertions and the planned audit procedures of the case study
  • Select sampling and testing procedures utilizing examples from the case study for payroll, definition of compensation, participant eligibility, participant data, contributions, and the timely remittance of contributions
  • Recognize common errors found in testing of contributions, eligibility and participant data

07

Tuesday
10:15AM-11:30AM

EBP1928. Auditing in a Digital World

Instructor: Monique Elliott, Wendy Terry
Track: Accounting & Auditing
Knowledge Level: Intermediate
Field of Study: Auditing
CPE Credits: 1.5

Audits in the digital world continue to evolve and make auditors' work more complex. We will review strategies to assist auditors in ensuring you meet current auditing and documentations standards.

Learning Objectives:

  • Determine appropriate audit evidence in an electronic environment
  • Choose best practices for auditing in electronic environment.

07

Tuesday
10:15AM-11:30AM

EBP1929. Unrelated Business Taxable Income

Instructor: J. Calvin Marks, Deborah Walker
Track: Plan Design & Tax Compliance
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.5

Special rules apply to unrelated business income for employee benefit plans. This session will review the rules for unrelated business income in general and those that apply to employee benefit plans in particular.

Learning Objectives:

  • Determine if unrelated business income tax is applicable to a specific welfare benefit plan
  • Analyze whether it is appropriate for your client to fund a specific welfare benefit plan and the tax implications of doing so in a tax exempt or taxable trust
  • Calculate unrelated business income tax when a qualified retirement plan needs to pay unrelated business income tax, if applicable

07

Tuesday
10:15AM-11:30AM

EBP1930. Anti-Assignment Rules – procedures, legal and tax issues

Instructor: Mark Gushkin, Melissa Kurtzman
Track: Industry Update
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.5

This session will cover the anti-assignment rules of the Code and ERISA. The session will also address the various exceptions to the anti-assignment rules, including qualified domestic relations orders; loans; assignments; tax levies; embezzlement; slayer statutes; qualified waivers; bankruptcy; and penalties.

Learning Objectives:

  • Identify Plan Administrator responsibilities under anti-assignment rules
  • Identify common QDRO pitfalls
  • Identify common loan strategies, including bridge loans
  • Identify uses of qualified waivers and challenges with assignments

07

Tuesday
10:15AM-11:30AM

EBP1931. Executive Compensation: Tax Reform & Beyond

Instructor: Eddie Adkins, Kelli Cacciotti, Karen Field
Track: Advanced Professionals
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.5

Session will detail the changes in section 162(m) and describe how to preserve some deductions in the future. Will cover considerations for simplifying executive and partner compensation planning. Other topics covered: Section 199A issues, carried interest issues, section 4960 - tax exempt entity benefits and the excise tax, inpat executives and cross-border compensation issues.

Learning Objectives:

  • Determine methods for protecting deductions for future grants under section 162(m)
  • Identify inpat executive compensation issues
  • Analyze company needs for changing compensation programs

07

Tuesday
10:15AM-11:30AM

EBP1932. Auditing DB Plans - Distributions and Census Data

Instructor: Stacy Meyer, Steve VanSteenkiste
Track: Accounting & Auditing
Knowledge Level: Intermediate
Field of Study: Auditing, Taxes
CPE Credits: 1.5

This session will discuss the key audit areas and considerations when auditing a defined benefit plan. Areas include distributions and auditing census valuation data. The session will also address the risk assessment process for a defined benefit plan and testing strategies.

NOTE: The session will not focus on the actuarial report or the assumptions that drive the actuarial valuation which are both covered in another session.

Learning Objectives:

  • Understand best practices when designing testing strategies for auditing distributions and the census valuation data
  • Identify the unique risk assessment considerations when auditing a defined benefit plan
  • Recognize strategies available when there

07

Tuesday
10:15AM-11:30AM

EBP1933. The Specificity of an ESOP's Tax Rules

Instructor: Anne Bushman, Mark Welker
Track: Plan Design & Tax Compliance
Knowledge Level: Advanced
Field of Study: Taxes
CPE Credits: 1.5

ESOPs are a unique type of qualified retirement plan. This unique aspect of owning and leveraging employer shares brings about unique tax consequences. This session will review tax rules specific to structuring ESOP transactions (such as S corporation vs. C corporation treatment and 1042 tax deferral) and existing ESOP sponsors (such as deduction limits, book-tax differences, and section 409(p).) The session assumes intermediate competency related to ESOPs. Auditors will benefit from the material as it is based on ESOP operations that have financial statement effects.

Learning Objectives:

  • Assess effects of income tax rules on a company that sponsors an ESOP
  • Interpret necessary facts for accurate tax compliance for ESOP sponsors
  • Categorize issues related to ESOP, including section 409(p) issues

11:30AM-11:40AM

07

Tuesday
11:40AM-12:30PM

EBP1934. Contributions, Eligibility and Participant Data, Part II

Instructor: Gwen Stoute Bryant, Tiffany White, Sara Wilson
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing
CPE Credits: 1.0

Continuation of Session 27 focusing on the testing of eligibility, participant data and contributions for the fundamentals track case study, including discussion of common errors found in these areas.

Learning Objectives:

  • Identify the various contribution types that are typical in a defined contribution plan, review the annual limits, and understand the participant and employer contributions based on the fundamental track case study's plan provisions, considering eligibility and eligible compensation for each type of contribution
  • Recall the risk assessment of relevant assertions and the planned audit procedures of the case study
  • Select sampling and testing procedures utilizing examples from the case study for payroll, definition of compensation, participant eligibility, participant data, contributions, and the timely remittance of contributions
  • Recognize common errors found in testing of contributions, eligibility and participant data

07

Tuesday
11:40AM-12:30PM

EBP1935. Breaking Down the Definition of Compensation (Repeated in Session 207)

Instructor: Chip Harris, Kimber Smail-benedict, William O'Malley
Track: Accounting & Auditing
Knowledge Level: Intermediate
Field of Study: Auditing, Accounting
CPE Credits: 1.0

It's not uncommon for employee benefit plan auditors to find errors in the application of a plan’s definition of compensation. However, truly understanding a plan’s definition of compensation is not always straight forward. This session will explore different definitions of compensation that are commonly used by plans, as well as some of the nuances that can make understanding the definition of compensation more challenging.

Learning Objectives:

  • Recognize various definitions of compensation that are commonly used in plan documents.
  • Identify common errors found when applying a plan's defintion of compensation to how compensation is calculated.

07

Tuesday
11:40AM-12:30PM

EBP1936. Compliance Testing in Defined Contribution Plans

Instructor: Karen Field, Keandra Greene
Track: Plan Design & Tax Compliance
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.0

In this session, attendees will enhance their basic competency of compliance testing issues by covering: controlled group rules, coverage testing, single employers and controlled group rules, Section 401(a)(4) nondiscrimination testing, Section 414(s) compensation testing considerations, and top heavy and 401(k) plan issues.

Learning Objectives:

  • Compare the interaction between controlled group testing and the various nondiscrimination rules.
  • Analyze whether a set of facts is likely to have testing issues

07

Tuesday
11:40AM-12:30PM

EBP1937. Legal Update and Recent Court Cases

Instructor: Renee Cahill, Keith Mong
Track: Industry Update
Knowledge Level: Intermediate
Field of Study: Auditing, Taxes
CPE Credits: 1.0

This session is intended to provide an update on key legal developments over the last year including legislation, agency guidance, and relevant court cases surrounding significant employee benefit plan issues.

07

Tuesday
11:40AM-12:30PM

EBP1938. What Officers and Directors Need to Know

Instructor: Lisa Germano, Jennifer Lehman
Track: Advanced Professionals
Knowledge Level: Advanced
Field of Study: Business Management & Organization
CPE Credits: 1.0

Officers and directors are not always aware of their responsibility for information and oversight. This session will provide information to those who are responsible for their employer’s retirement plan or who want to know the details for the oversight responsibilities. The session will include: information to the plan auditor, hiring a plan auditor, hiring the service providers, fidelity bond and fiduciary insurance coverage along with best practices for Administrative or Investment Committees – including the Request For Proposal process.

Learning Objectives:

  • Evaluate your responsibilities as an officer and/or director to ensure you're aware of all responsiblities, such as hiring and overseeing the plan audit.
  • Categorize service providers and assess which attributes each provider contributes to your plan.
  • Reconstruct proper, thorough committee documentation of actions taken.

07

Tuesday
11:40AM-12:30PM

EBP1939. Insights into multi-generational learning and training

Instructor: Carey Blakeman, Dr. Reggie R. Padin
Track: Enhanced Knowledge
Knowledge Level: Basic
Field of Study: Personal Development
CPE Credits: 1.0

There are over five generations in the workforce. How many are in your firm or company? If there are more than one, you should attend this session! Professional development is key to one's success. Training, whether informal or formal, is included in that. Be the valuable employer your staff believes you are and come to this session to learn the latest and most innovative ways to train your multi-generational staff.

Learning Objectives:

  • Recognize staff training needs to make you a valuable employer
  • Recall latest training trends and techniques for your multi-generational staff
  • Identify innovative learning solutions and current initiatives in the learning industry

07

Tuesday
11:40AM-12:30PM

EBP1940. Effective Audit Planning: Best Practices for Plan Sponsor and Auditors

Instructor: Santiago Bianchi, Peggy Bradley, Wesley White
Track: Accounting & Auditing
Knowledge Level: None
Field of Study: Auditing
CPE Credits: 1.0

Provide best practices regarding the planning and management of benefit plans audit engagements, from a Plan Sponsor perspective.

Learning Objectives:

  • Understand the importance of strong planning and preparation for a successful "smooth" audit
  • An open honest plans sponsor/auditor communication is key to enable trust on both sides
  • Help the Auditor understand your plans. It will help/facilitate the auditors work and reduce recycle and unnecessary efforts. 4- The Audit is not only a legal requirement. It's a plan sponsor extraordinary external review that helps ensure regulatory compliance.

12:30PM-1:30PM

07

Tuesday
1:30PM-2:45PM

EBP1941. Investments Commonly Used in Employee Benefit Plans

Instructor: Travis Jack, Brad Wall
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing
CPE Credits: 1.5

This session provides an overview of investments commonly held by defined contribution plans and focuses on investment testing and disclosures relevant to the fundamentals track case study.

Learning Objectives:

  • Identify the key characteristics of various investments commonly held in plans, including insurance products, common/collective trust funds, pooled separate accounts, mutual funds, and self-directed brokerage accounts.
  • Recall the risk assessment of relevant assertions and the planned audit procedures of the case study
  • Select sampling and testing procedures utilizing examples from the fundamentals track case study for investments and investment income
  • Recognize unique financial reporting requirements for investments

07

Tuesday
1:30PM-2:45PM

EBP1942. Audit and Accounting for Common Investments

Instructor: Eric Carroll, Steve VanSteenkiste
Track: Accounting & Auditing
Knowledge Level: Intermediate
Field of Study: Auditing, Accounting
CPE Credits: 1.5

This session will discuss various investments that are commonly held by employee benefit plans including investment contracts and stable value products. The session will also cover relevant valuation and classification concepts.

Learning Objectives:

  • Identify common investments held by employee benefit plans
  • Analyze stable value products, including design, valuation, and operation
  • Distinguish reporting of common insurance company products compared to other investments
  • Recognize unique considerations needed for these investments

07

Tuesday
1:30PM-2:45PM

EBP1943. Common IRS/DOL Errors and How to Correct Them (Repeated in Session 64)

Instructor: Renee Cahill, Mark Ritter
Track: Plan Design & Tax Compliance
Knowledge Level: Basic
Field of Study: Taxes
CPE Credits: 1.5

This course will provide an introductory discussion about the basic parameters relating to how common IRS/DOL errors can be corrected under the IRS Employee Plans Compliance Resolution System (EPCRS) and the DOL Voluntary Fiduciary Correction Program (VFCP). This course will include comments on the recently released EPCRS Program.

Learning Objectives:

  • Identifying common plan administrative and similar errors
  • Recognize appropriate and compliant correction methods for respective errors.

07

Tuesday
1:30PM-2:45PM

EBP1944. It’s Never Too Soon to Start Retirement Planning

Instructor: Avery Neumark, Carol Zurcher
Track: Industry Update
Knowledge Level: Basic
Field of Study: Taxes
CPE Credits: 1.5

Common research shows many individuals wait too long to start tax and retirement planning. This can cause one to work longer or unexpected stress as one nears retirement. Be proactive and get started now! It’s never truly too soon. The session will cover topics such as IRAs and what is the right IRA for you, social security 101, estate planning, and navigating your current retirement plan.

Learning Objectives:

  • Recall retirement planning considerations for all generations and the importance of beneficiary selections
  • Recognize important aspects of your retirement plan and select the appropriate IRA that matches your retirement goals
  • Distinguish between a Roth or a Roth Conversion
  • Identify key ages when discussing retirement goals

07

Tuesday
1:30PM-2:45PM

EBP1945. Sponsor Accounting for Compensation in DB and HW (ASC 715)

Instructor: Catherine Daubek, Dennis Polisner
Track: Advanced Professionals
Knowledge Level: Advanced
Field of Study: Accounting
CPE Credits: 1.5

This session will provide an overview of the accounting for DB and H&W plans based on the guidance from ASC 715-30 and ASC 715-60. It will compare and contrast the accounting for plan sponsors with the accounting for the plans under ASC 960 and ASC 965. The session will also cover the objectives of sponsor accounting, the balance sheet and P&L aspects of the standards, and special situations such as curtailments and settlements.

Learning Objectives:

  • Evaluate these unique accounting models
  • Reconstruct sponsor accounting and plan accounting based on ASC 715

07

Tuesday
1:30PM-2:45PM

EBP1946. Managing Self-Insured Benefits Costs

Instructor: Garret Hansen, Jonathan Trionfi
Track: Enhanced Knowledge
Knowledge Level: Advanced
Field of Study: Business Management & Organization
CPE Credits: 1.5

A review of self-insured medical benefits costs, what has been driving the costs up recently, and steps companies are taking to manage, contain, and reduce costs.

Learning Objectives:

  • Predict self-insured benefit plans costs based on plan characteristics
  • Evaluate benefit plan costs management processes

07

Tuesday
1:30PM-2:45PM

EBP1947. Health & Welfare Plans - Understanding the Claims Process and Testing Claims

Instructor: Gabriel O'Keefe, Francis Orejudos
Track: Accounting & Auditing
Knowledge Level: Advanced
Field of Study: Auditing, Accounting
CPE Credits: 1.5

This session will describe how medical claims are processed by self-insured plans. We will explain the auditor's responsibility with auditing self-insured claims in a financial statement audit; and clarify the difference between a medical claims review and a financial statement audit. The session will also discuss best practices for testing these types of claims, including possible uses of data analytics; specifically on auditing claims and risk assessment.

Learning Objectives:

  • Reconstruct the life-cycle of a claim
  • Categorize the different purposes for each type of audit (i.e., medical claims audit, financial statement audit)
  • Assess risk assessment for a self-insured Health and Welfare Plan audit
  • Evaluate the auditor’s responsibility when auditing a self-insured health and welfare plan and describe the difference between a medical claims audit and a financial statement audit, and where the findings in a claims audit can help the financial statement auditor

2:45PM-2:55PM

07

Tuesday
2:55PM-3:45PM

EBP1948. Distributions and Plan Expenses

Instructor: Anne Morris, Tiffany White
Track: Audit Fundamentals
Knowledge Level: Basic
Field of Study: Auditing, Taxes
CPE Credits: 1.0

This session will provide an overview of distributions and common errors in a defined contribution plan and will focus on the testing of distributions and plan expenses for the fundamentals track case study.

Learning Objectives:

  • Identify the various types of distributions (retirement, rollovers, hardships, loans, etc.), vesting and forfeitures, as well as the different forms of payment (lump sum, annuities)
  • Recall the risk assessment of relevant assertions and the planned audit procedures of the case study
  • Select sampling and testing procedures for distributions (including vesting and forfeitures), participant loans, and hardships utilizing examples from the fundamental track case study

07

Tuesday
2:55PM-3:45PM

EBP1949. Common Financial Statement Errors

Instructor: Jean Hackstock, Jillian Mott
Track: Accounting & Auditing
Knowledge Level: Intermediate
Field of Study: Auditing
CPE Credits: 1.0

Go through common financial statements and the common errors using the disclosure checklist for DC, DB and H&W plans. Focus more on the common financial statement errors and how to correct them.

Learning Objectives:

  • Identify common errors seen in financial statements
  • Differentiate financial statement presentation based on certain benefit plan types (e.g. defined contribution, defined benefit and health & welfare)

07

Tuesday
2:55PM-3:45PM

EBP1950. Distributions & Participants Loans - All the Updates You Need To Know

Instructor: Amisha Patel, Avery Neumark, Thomas Pevarnik
Track: Plan Design & Tax Compliance
Knowledge Level: Basic
Field of Study: Auditing, Taxes
CPE Credits: 1.0

This session will focus on the tax compliance and auditing aspects, including plan design, related to participant loans and plan distributions.

Learning Objectives:

  • Recall new developments regarding coordination of hardship distributions and participant loans
  • Recall the effects of the Tax Cuts and Job Act of 2017 and the Bipartisan Budget Act of 2018 on distributions and loans
  • Recognize planning opportunities for both plan sponsors and participants

07

Tuesday
2:55PM-3:45PM

EBP1951. Revival of Pension Plans for Executives

Instructor: Christa Bierma, Rob Keller
Track: Industry Update
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.0

Session covers the use of pension plans as a tool for mitigating the impact of section 162(m), section 4960, and allowing for access to the section 199A deduction for a specified service trade or business.

Learning Objectives:

  • Analyze the treatment of qualified plans as income for purposes of section 162(m), section 4960, and section 199A.
  • Determine strategies for addressing the various issues that may arise.

07

Tuesday
2:55PM-3:45PM

EBP1952. Tax and Audit Lightening Round The Daily Double

Instructor: David Torillo, Michelle Buckley
Track: Industry Update
Knowledge Level: Intermediate
Field of Study: Auditing, Taxes
CPE Credits: 1.0

07

Tuesday
2:55PM-3:45PM

EBP1953. How an Auditor Adds Value to a Client

Instructor: Jewell Esposito
Track: Enhanced Knowledge
Knowledge Level: Advanced
Field of Study: Auditing
CPE Credits: 1.0

Session gives CPAs tools and topics to coach their EB Plan clients on plan governance: reach of fiduciary responsibility/oversight, understanding "bundled" arrangements, why the DOL demands an IPS (even if the law does not), choosing a 3(21) or a 3(38) to assist, issues even auditors sometimes miss.

Learning Objectives:

  • Formulate your firm's plan to be a value-add to an EBP client
  • Interpret comments from a recent client survey to customize your EBP practice
  • Predict issues auditors should find or consult on for their EBP clients

07

Tuesday
2:55PM-3:45PM

EBP1954. Accounting & Auditing for ESOPs

Instructor: Theresa Banka, Dena Herbolich
Track: Accounting & Auditing
Knowledge Level: Basic
Field of Study: Auditing, Accounting
CPE Credits: 1.0

This hands on class will walk through the key areas of accounting, auditing and financial reporting for ESOPs.

Learning Objectives:

  • Recognize relevant provisions of ESOPs
  • Recall practical knowledge for auditing private company stock, release of shares from suspense and other unique ESOP provisions
  • Recognize the proper reporting and disclosure requirements for ESOPs

07

Tuesday
4:15PM-5:30PM

EBP1955. Ask the Regulators: Fireside Chat

Instructor: Scott Albert, Marcus Aron, Catherine Jones, Garardo Velez
Track: General Session
Knowledge Level: Update
Field of Study: Auditing, Taxes
CPE Credits: 1.5

This is a great opportunity to ask questions of government agency representatives who administer ERISA.

Learning Objectives:

  • Recall a better understanding of those issues that are facing accounting and tax professionals who work in employee benefit plans