Topic: SECURE ACT: Reduce Liability, Reduce Work, Reduce Fees, Maximize Tax Outcomes: New Pooled Employer 401(k) Plans!

Description: Since the passage of ERISA in 1974, 401(k) plans have been burdening businesses with administrative work, fiduciary liability, confusion and excessive fees. With social security headed towards insolvency, Congress passed the SECURE ACT which provided the first real improvements in the 401(k) marketplace since 1974.  These improvements were meant to reduce fees, reduce risk and reduce work in operating 401(k) plans so that privately held businesses could confidently and cost-effectively offer 401(k). The act created the future of 401(k) – Pooled Employer Plans.

Learning objectives:

• Understand the Single Employer Plan 401(k) space and how providers are hiding excessive fees and deferring liability.
• Understand ERISA 3(16) Administrative Fiduciary Liability worn by business owners today.
• Understand ERISA 3(38) Investment Fiduciary Liability worn by businesses owners today.
• Understand the new Pooled Employer Plan 401(k) vehicle and its benefits.
• Understand how to customize your firm’s 401(k) to reduce the owner’s tax liabilities.

The Construction Financial Management Association (CFMA) 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

Alex Jenkins is Partner and Chief Revenue Officer at NestEggs 401(k). NestEggs is a bundled national Registered Investment Advisor, third-party administrator, and independent recordkeeper built atop the Charles Schwab platform. The firm builds, administers, and provides recordkeeping services and serves as ERISA Section 3(16), 3(21), and 3(38) fiduciaries for company retirement plans. Alex and his partners represent a new generation of 401(k) providers offering a more complete and flexible service model within the 401(k) via Pooled Employer Plans. Alex is a Series 65 Licensed Investment Advisor Representative, a Certified Plan Fiduciary Advisor (CPFA®) and an Accredited Investment Fiduciary (AIF®). He is a respected authority on the 401k Plan marketplace having been interviewed by top global mutual fund managers on the space and serving as a frequent presenter and speaker at various industry events and conferences.