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Understanding 401(k) Plan Automatic Enrollment

Understand the benefits of automatic enrollment and the compliance issues that may affect it.

Studies show that implementing automatic enrollment is one of the most effective ways to increase participation and improve nondiscrimination testing. This course will describe the benefits of automatic enrollment, give a primer on automatic enrollment administration, and provide an update on recent legislation and compliance issues affecting automatic enrollment. The material will also explain the automatic enrollment structure and differences between general automatic contribution arrangements (ACAs), eligible automatic contribution arrangements (EACAs), and qualified automatic contribution arrangements (QACAs).

59 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

  • Automatic Enrollment Legal Background
  • Benefits of Automatic Enrollment
    • Participation Rates
    • Nondiscrimination Testing

Types of Automatic Enrollment

  • Basic Automatic Contribution Arrangement (ACA)
  • Eligible Automatic Contribution Arrangement (EACA)
  • Qualified Automatic Contribution Arrangement (QACA)

Automatic Enrollment Structure

  • Safe Harbor vs. Non-Safe Harbor
  • Eligibility
  • Default Elective Deferral Rates and Automatic Increases
  • Employer Contributions
  • Default Investments

Automatic Enrollment Administration

  • Enrollment
  • Notice and Election Requirements
  • Permissible Withdrawals
  • Default Investments and Fiduciary Concerns
  • Nondiscrimination Testing

Compliance and Legal Updates

  • Correcting Automatic Enrollment Errors
  • Recent Legislation and Guidance
  • Future of Automatic Enrollment
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on February 4, 2022.

Call 1-866-352-9540 for further credit information.

  • HR Certification Institute 1.0
     
  • This E-Learning program has been approved for 1.0 (General) recertification credit hours toward aPHR(TM), aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM) and SPHRi(TM)recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
     
  • SHRM 0.75
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 0.75 PDC(s) for the SHRM-CP or SHRM-SCP.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

  • Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Adam M. Zuidema, Esq.

Adam M. Zuidema, Esq.

Stevens & Lee

  • Attorney in the Employee Benefits Group of the law firm Stevens & Lee, which is among the 250 largest law firms in the country and the cornerstone of The Stevens & Lee Companies
  • Focuses his practice in the area of employee pension benefit plans, including the drafting, design, compliance, and administration of single employer, multiple employer, and multiemployer plans
  • Routinely advises clients with respect to the requirements of the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) for all types of employer-sponsored retirement plans, including profit sharing, 401(k), 403(b), governmental 457(b), employee stock ownership, money purchase pension, and traditional defined benefit plans
  • Regularly assists clients with correcting plan operational issues through governmental correction programs and with navigating Internal Revenue Service and Department of Labor retirement plan audits and investigations
  • Member of the American Bar Association, Lancaster Bar Association, Berks County Bar Association, and Lancaster Society for Human Resource Management
  • J.D. degree, Pennsylvania State University Dickinson School of Law; B.A. degree in political science, Case Western Reserve University
  • Can be contacted at 610-478-2155 or [email protected]
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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  • Executive Reports
  • White Papers and Articles

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  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 409450
Published 2022
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