Seven years ago, Alten Tool and Die installed a profit sharing plan and a managed care plan. Three years ago, the director of Alten retired. The new director was an outside hire who changed several aspects of the business’s organization but left the existing benefit program in place. During the past 5 years, tensions among union and nonunion workers resulted in about 10% turnover in the workforce. The current set of workers is about 3 years younger, on average, than the previous set of workers. Which step in the employee benefit planning process has the director of Alten neglected?

Directors of Xenon Corporation are considering changing from a traditional defined benefit plan to another type of plan. They have asked you to explain the advantages and disadvantages of such a change. You explain that if Xenon Corp. converts to

Truth in Lending requirements apply to every loan an employer makes.

An individual who has a Keogh plan cannot also invest in a traditional or Roth IRA.

An employer can sponsor an IRA for employees. Which of the following types of programs can be used for this purpose?(I)Rollover IRA(II)Deemed IRA(III)SEP(IV)SIMPLE IRA

Which of the following pieces of information about a client’s employee benefits is needed?

Joan Garvey owns Garvey Management, a property management company. Last year, Garvey Management installed a qualified defined benefit plan. A small portion of the plan is invested in real estate. Joan hired Hank Thomas, an actuary, to evaluate the plan on an annual basis. Hank’s lease in his old office space ran out, and Joan offered to let him occupy an office rent-free in one of the buildings that is in the qualified plan’s portfolio. This arrangement would be an acceptable transaction under ERISA.

Elective deferrals in a 401(k) plan can be distributed upon occurrence of all of the following, except

A “listed transaction” is:

Well Corporation has a life insurance policy on the life of the owner Ben Well as part of his defined benefit plan. Ben plans to retire in five years at the age of 65. At that time, he will receive $2,000 per month. The face value of his insurance policy is $210,000. The IRS will treat Ben’s life insurance plan as an incidental death benefit.