Plan Design for Closely Held Companies

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • CFA
  • EA
  • HRCI
  • ORTP
  • CPA/PFS
  • SHRM
  • TEP
  • ChFC
  • CSA
  • MRTP
  • ERPA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CFIRS
  • CWS

Published: January, 2022

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • What information do you need
    1 mins
  • Traditional profit sharing plan
    10 mins
  • Traditional 401(k) simple IRA
    25 mins
  • Traditional 401(k) v Safe harbor 401(k)
    41 mins
  • Cash balance plan allocation of costs
    65 mins
  • Choosing the right plan
    72 mins

Course Description

This 2 CPE webinar will guide advisers and plan administrators on methods to avoid benefits and compensation pitfalls for closely-held business. Employee benefits and compensation matters can be challenging for closely held and family-owned companies. In designing and implementing benefits and compensation arrangements, closely-held and family-owned businesses must be aware of the pitfalls and available opportunities to ensure compliance with applicable guidance.

Providing benefits and certain compensation arrangements involve some vital procedural and compliance steps which could lead to unintended liability if not carefully administered. An in-depth understanding of federal and state regulations and administrative procedures in providing 401(k) plans, and offering other incentives are essential for a closely held business to avoid any costly missteps. You will also be able to identify the difference between choosing Traditional 401(k) and Simple IRA in this live CPE webinar.

This CE course will address the various options for retirement plan design for small to mid-size companies that typically adopt plans that are beneficial to owners and key employees.

Participants will learn which plans can be designed to satisfy plans focused on owners and key employees, which plan provisions and IRS guidelines assist in this goal and examples of several proven alternatives.  We will address data points that are key in being successful in this endeavor.

This 2 CE webinar will guide advisers and plan administrators on methods to avoid benefits and compensation pitfalls for closely-held business.

Major topics covered in this CPE/CE webinar:

  • Discussion about Traditional profit-sharing plan
  • Traditional 401(k) v SIMPLE IRA
  • Auto-Enrol 401(k) Plans
  • Traditional 401(k) v Safe Harbor 401(k)
  • Class Allocation PSP and Safe Harbor 401(k)
  • Defined Benefit Plan
  • Cash Balance Plan
  • 401(k) Plan Types

Learning Objectives

  • To learn which plan to be designed for retirement plan design which best serves owners and employees
  • To learn plan provisions and IRS guidance to satisfy plans focused on owners and key employees
  • How to choose a successful plan design for owners and employees
  • To discover various options for retirement plan design for small to mid-size companies 

Recommended For

  • This CPE webinar is recommended for CPA, CMA, PFS, CSA, and Other Finance Professional who wishes to suggest unique solutions for closely held companies to choose most appropriate plan design.
  • This IRS Approved CE course is recommended for EAs, AFSPs, Tax Practitioners, Tax Attorneys and Other Finance and Tax professionals interested in learning about retirement plan design for closely held companies.

Who Should Attend?

  • Accountant
  • California Registered Tax Professional
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Financial Planner
  • Finanical Analyst
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 2 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CE Credit of Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA)
  • 2 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01101-22-S)
  • 2 CPD Credit of Retirement and Financial Independence Planning for Personal Financial Specialist (PFS)
  • 2 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01101-22-S)
  • 2 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01101-22-S)
  • 2 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-00710-21-S)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper
  • 2 RCH Credit of HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 583151)
  • 2 CPE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 2 CPE Credit for Financial Services Certified Professional (FSCP)
  • 2 CPE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 2 CPE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 2 CPE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 2 CPE Credit of Taxes for Wealth Management Certified Professional (WMCP)
  • 2 PL Credit for Chartered Financial Analyst (CFA)
  • 2 CPD Credit for Trust and Estate Practitioners (TEP)
  • 2 PL Credit for Certificate In Investment Performance Measurement (CIPM)
  • 2 PDC Credit for SHRM Professionals (Approval No. 22-JJV6Q)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Steve Abramson, CPC, CLU, ChFC

President, APS Pension and Financial

Stephen Abramson is the President and founding partner of APS Pension & Financial Services established in 1977, a mid-size consulting and actuarial firm employing twenty-two professional and support staff specializing in pension and pension-related services.  For over 40 years, APS has been providing closely held businesses with financial services including pension design and administration, business succession planning, and wealth preservation planning. In 2015 APS Investment Management was established to provide fiduciary services to 401(k) and 403(b) plans and in 2018 APS Wealth Management, a Registered Investment Advisor (RIA), was established to provide investment management services to individual clients and retirement plans replacing his previous relationship with a Broker/Dealer.  Steve has taught professional level education programs for the American Society of Pension Actuaries; lectured to various professional groups, including the National Conference of CPA Practitioners, The NYS Society of CPAs, Nassau Bar Association, the C.W. Post Tax Institute, and the National Institute of Pension Administrators; and conducted continuing education seminars for Certified Public Accountants for the past 35 years. He is co-author of Plan Smart, Retire Rich published by McGraw Hill in 1998; author of Advisor’s Guide to Qualified Plans originally published by Aspen Publishing in March, 2002 and recently in the process of being updated with the 8th edition, and Retirement Financial Management for Clients Approaching Retirement published by Aspen Publishing in August, 2002.  A less technical version of Advisor’s Guide to Qualified Plans entitled Guide to Qualified Retirement Plans: A Plain Language Primer was published by the International Association of Employee Benefits in March 2005.  The second edition of this book was released in 2008.

Steve graduated from Cornell University in 1964, earned the designation of Chartered Life Underwriter in 1967 from the American College, Certified Pension Consultant in 1970 from the American Society of Pension Professionals and Actuaries and Chartered Financial Consultant from the American College in 1972.


About Company

APS Pension and Financial

www.apspension.com

APS Pension & Financial Services Inc. (APS) is pleased to present our proposal to perform the annual administration for the Inck Consulting, Inc. Defined Benefit Plan and the Inck Consulting, Inc. Incentive Savings Plan.

APS was founded in 1977 exclusively as a Third Party Administrator (TPA). Today, APS Pension & Financial Services is a financial services consulting firm specializing in Retirement Plan Design, ERISA Fiduciary Services and Wealth Management.  We are a certified Center for Fiduciary Excellence (CEFEX®) firm and adhere to the global fiduciary standards of the American Society of Pension Professionals & Actuaries (ASPPA) and CEFEX. Our staff all have long tenure with the firm and extensive knowledge in the retirement plan space.  After 40+ years of working with businesses and individuals, we have likely seen most, if not all, issues as well as the solutions and strategies to improve outcomes.  

APS is a full service actuarial and benefit consulting firm for hundreds of defined benefit and defined contribution plans. With a staff of 17 employees, APS offers a wide range of services including plan design and installation, plan administration, participation in IRS audits, and plan terminations.


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