_OH_401(k) Plans

401(k) plans play a significant role in promoting the financial security of the U.S. workforce at retirement. This course provides a comprehensive look at 401(k) plans and explains how these plans are designed, the types of contributions that can be made, and the various investment vehicles available to participants. The course also covers technical issues related to 401(k) plans, such as eligibility requirements, nondiscrimination testing, vesting schedules, and the tax consequences of distributions. Financial professionals will also learn about the different types of 401(k) plans and the rules governing rollovers, participant loans, required minimum distributions, enrollment materials, plan reporting and disclosure requirements, and plan conversions.

The course covers:
  • contributions and employer deductions
  • eligibility and vesting requirements
  • distributions and loans
  • nondiscrimination testing
  • types of 401(k) plans
  • plan document, reporting, and disclosure requirements
  • plan conversions
Upon completion, students will be able to:
  • cite the parties that are involved in establishing and maintaining a 401(k) plan
  • demonstrate an understanding of the different contribution types and the annual limits that apply to contributions
  • identify the investment vehicles available to 401(k) plans
  • explain permissible eligibility and vesting requirements
  • describe the forms that are needed to enroll an employee in a 401(k) plan
  • understand when participant distributions are permitted or required and their tax consequences
  • describe the participant loan rules
  • demonstrate an understanding of the nondiscrimination testing required for 401(k) plans
  • identify the characteristics of safe harbor 401(k) plans
  • outline and describe the plan document requirements, including the summary plan description
  • describe the purpose of Form 5500, its schedules, and the summary annual report
  • explain the financial professional’s role during a plan conversion
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