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The American Bar Association Sections of
Business Law, Health Law, Labor and Employment Law,
Real Property, Probate and Trust Law, Taxation and Tort Trial and Insurance Practice
(under the Auspices of the ABA Joint Committee on Employee Benefits) and
The American College of Employee Benefits Counsel Present
Professional Employer Organizations
(PEOs): The Transition to
Multiple Employer Pension Plans
A 90-minute Teleconference
Tuesday, July 23, 2002
1:00-2:30 pm ET / 12:00-1:30 pm CT / 11:00 am-12:30 pm MT / 10:00 am-11:30 am PT
This program has already taken place.
Audiotapes are available for $150.
For ordering information, contact Nancy Matthews at matthewsn@staff.abanet.org
or (202) 662-8640.
Ref. #JCEBT020723PEO
The IRS has issued long-awaited guidance in Revenue Procedure 2002-21 regarding PEO-sponsored defined contribution retirement plans. Plans established after May 13, 2002, must be designed and operated as multiple employer plans that benefit the worksite employees of the PEO's client organization. For retirement plans in existence on May 13, 2002, the PEO has the option to either convert the plan to a multiple employer plan or terminate the plan. The PEO's client has the option to either adopt the PEO's multiple employer plan, transfer plan assets and liabilities to the client's plan, or spin-off the plan assets to a separate plan that is then terminated. Decisions must be made by May 2, 2003 for calendar year plans and implemented by December 31, 2003. This teleconference will address key issues affecting PEOs and their clients regarding the implementation of the new rules regarding PEO-sponsored retirement plans.
Topics Include:
- What is a PEO?
- What options are available to the PEO to transition to a multiple employer plan?
- What time limits apply during the transition period?
- What options are available to a client of the PEO?
- What notice must be provided to the client of the PEO?
Moderator
Daniel L. Morgan, Venable, Washington, DC
Speakers
Richard Wickersham, Manager, EP Technical Guidance and Quality Assurance, Tax Exempt and
Government Entities Division, Internal Revenue Service, Washington, DC
Janet Laufer, Office of Division Counsel / Associate Chief Counsel, Tax Exempt and Government
Entities, Internal Revenue Service, Washington, DC
Darren Fehring, Associate General Counsel, Administaff, Inc., Houston, TX
E. Philip Bush, Locke Liddell & Sapp LLP, Dallas, TX
JCEB Program Chair
Martha L. Hutzelman, Bosley Hutzelman, Alexandria, VA
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