RECORDED WEBINAR: 

Common Qualified Plan Errors and Suggested Correction Methods

Presented by
Diane Nesbit and Brooke Cozort

Originally Recorded on Wednesday, February 22
100 Minutes

Presentation Description

Errors in qualified plans happen frequently and, fortunately, the IRS and DOL provide programs that allow plan sponsors to correct most of them. This presentation brings together a seasoned qualified plan auditor and ERISA attorney to discuss why it is important to engage service providers to help prevent and correct errors.  The speakers will discuss the most common plan errors discovered during an audit and suggested ways to correct those errors.  In addition, the speakers will provide a brief update on recent regulatory changes impacting qualified plans, specifically the impact of SECURE 2.0 on the IRS Employee Plans Compliance Resolution System (EPCRS).

Learning objectives:

Learning Objectives

• The importance of engaging qualified plan service providers
  
• How to prevent common plan errors found in an audit
  
• How to identify and correct common plan errors found in an audit
  
• Brief summary of SECURE 2.0 and other various regulatory changes
  

Speakers

Diane Nesbit, CPA, Partner, Larson & Company 

Diane has over 22 years of experience in public accounting and has been with Larson & Company since 2000. Diane specializes in working with employee benefit plans, traditional and captive insurance companies, and not-for-profit organizations. She leads the employee benefit plan audit practice of the firm. Diane also serves as the firm quality control partner. Diane’s expertise includes all accounting and auditing standards and regulations as specified by the AICPA, ERISA, DOL, and FASB. Diane is currently serving as the vice president for the WP&BC Salt Lake City Chapter. Diane loves spending time with her family, reading, and traveling.

Brooke Cozort , JD, CPC, Harlowe & Falk

Brooke is an ERISA Attorney with over 20 years of experience working with qualified and nonqualified plan matters. Prior to joining Harlowe & Falk, Brooke was in-house ERISA counsel for Definiti, a nationwide third-party administration (TPA) firm, serving over 5,000 clients. Prior to starting her law career, Brooke was a partner and Vice President of Pension Services at Retirement Planning Services, Inc. (a TPA firm located in Denver, CO); her roles there included retirement plan design, ERISA consultant, and vendor and relationship management with recordkeepers, investment advisors, auditors, and actuaries. Brooke provides clients with guidance on plan design considerations, operational compliance, fiduciary responsibilities, legislative and regulatory changes, and industry trends.

Continuing Education:

• 2 hours CE for JBEA
• 2 hours CE for ASPPA
• 2 hours CPE for NIPA
• 2 hours CE for CEBS
• 1.5 hours of MCLE for California 

A Special Thank You to Our Sponsor

Sincerely,
Bridget Davidson 
Webinar Coordinator | Western Pension & Benefits Council 
(503) 866-6384 Mobile
PO Box 2023 | Gresham, OR 97030 
webinars@westernpension.org  |  www.westernpension.org

Follow us on LinkedIn to stay up to date!