Participant Troubles: Loans and Hardship Distributions
This program was recorded during a live presentation on April 7, 2009.
With economic bad times dominating the headlines, plan administrators are deluged with requests for plan loans and hardship distributions. This seminar will discuss all the ins and outs of premature access of retirement funds.
Topics include:
- Participant Loans
- The 50% limit in a falling market
- Appropriate interest rate
- Terminating payroll withholding
- Tax and reporting issues for loan default
- Accounting and reporting phantom interest
- Terminating plan with outstanding loans
- Loans to former employees
- Loans to employers
- Hardship Distributions
- Hardship events
- Documentation
- Satisfying distribution and loan options first
- Loan increasing the need
- Cutting off deferrals
- Safe harbor vs. non-safe harbor
- Interim hardship distributions
- Tax consequences
This program is complemented by SunGard's Relius Education "Plan Troubles: Reductions, Terminations, and Valuations" Web seminar, recorded on April 9, 2009.
Speaker – S. Derrin Watson, J.D., APM
Recipient of ASPPA's 2006 Educator of the Year Award
Instructional Delivery Method
Group – Internet-Based
Prerequisites
There are no prerequisites and no advance preparation required for this program. However, The speaker will assume general familiarity with the design and operation of 401(k) plans.
Level - Intermediate.
System Requirements:
- Windows 95, 98, NT 4.0 , 2000, XP
- Internet Explorer 4.01 or later, Netscape 4.08 or later
- 56K modem connection or better (128K recommended)
- Pentium 166+ MHz, 128MB RAM or more
- 800x600 or higher display resolution
- Soundcard, Speakers
Recorded Event Time Limitation:
This recorded event will be available for 20 days from your date of registration.
Program related requests, questions, or concerns may be e-mailed to: relius.education@sungard.com.