WorldatWork
Certification Seminar B1
Regulatory Environments for Benefits Programs
Grasping the Fundamentals
This
course presents an overview of U.S. regulatory
requirements for employee benefits programs. It examines
how federal regulations influence types of benefits
plans including health and welfare plans, retirement
plans, paid time off programs and IRC Section 125 & 129
plans. Attendees will learn administration and
communication regulatory requirements for benefits
plans.
- Explore government’s influence on employee benefits plans.
- Review legislation and regulations that affect retirement benefits.
- Examine legislative and regulatory requirements for
pay-for-time-not-worked programs.
- Discuss relevant legislation that affects employee health and welfare
benefits programs.
- Examine the taxation of health and welfare benefits and required
nondiscrimination tests.
- Explore legal issues related to IRC Section 125 and Section 129 plans.
- Examine communication and administration activities related to benefits
programs
Who Should Attend
This course contains U.S.-specific content designed
specifically for benefits professionals who are new to
the benefits field as well as for generalists or
compensation specialists with limited exposure to the
benefits function.
What You Will Learn
Government Influence on Employee Benefits
- The legislative process
- The regulatory and judicial process
- Federal governing agencies
- Government benefits programs
- State programs
- Federal programs – Social Security
- Equal opportunity laws
- ERISA
- Internal Revenue Code
Legislative, Regulatory and Tax Environments for Retirement Benefits
- Retirement terms
- Employer-sponsored retirement plans
- IRS and DOL guidance
- EGTRRA
- Pension Protection Act
- ERISA Provisions
- ERISA Section 404(c) regulations
- Nondiscrimination requirements for retirement plans
- ADP/ACP nondiscrimination tests
- Tax issues – retirement plans
- QDRO
Legislative and Regulatory Environments – Pay For Time Not Worked
- Pay for time not worked
- FLSA
- FMLA
- USERRA
- Statutory requirements
Health and Welfare Benefits Legislation
- Health and welfare benefits terms
- Health and welfare benefits
- ERISA
- COBRA
- HIPAA
- Tax Relief and Healthcare Act of 2006
- PPACA
Tax and Regulatory Environments for Health and Welfare Benefits
- Tax and regulatory terms
- Major health plan and insurance tax code sections
- General tax advantages
- Health Plans – tax treatment of employers
- Nondiscrimination requirements for health and welfare plans
- Nondiscrimination requirements for health plans
- Group term life insurance
- Accidental death and dismemberment
- Disability income benefits
- Long-term care
- Withholding and reporting requirements
- Financial accounting standards affecting health and welfare benefits
Regulatory Environments for Sections 125 and 129 Plans
- Section 125 Terms
- IRC Section 125 – cafeteria plans
- Key provisions for Section 125 plans
- Written plan requirements
- Statutorily eligible benefits
- Prohibited benefits
- Additional legal considerations
- Section 125 nondiscrimination rules
- IRC Section 129 – dependent care assistance
- Nondiscrimination rules for Section 129 plans
Administration and Communication Requirements for Benefits Plans
- Adapting benefits plans to regulations
- Communicating and reporting
- Reporting to regulatory agencies
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