SC Let’s Talk About the F-Word—The DOL’s New Fiduciary Definition and Rules. - Sacramento Discussion Group | J2050817

Instructors

Date :
August 16, 2017 12:00 PM - 1:00 PM
Location :
Sacramento Area
Facility :
Piatti Sacramento Italian Restaurant & Bar
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Level of Difficulty :
Update
Nonmember Price :
35
CPE Credits :
CPE 1.00
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The United States Department of Labor’s new fiduciary definition and conflict of interest regulation became effective June 9, 2017 under transitioning rules and will become fully implemented on January 1, 2018.  The rule fundamentally changes who is considered a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) with respect to retirement plans and IRAs.  Scott will discuss the history of the new rule and its impact on employee benefits plans and their advisors, what rules are currently in effect and what rules become effective next year.   

Objectives:

• Learn about the United States Department of Labor’s new fiduciary definition and conflict of interest regulation that became effective on June 9, 2017. • Gain information on the history of the new rule and its impact on employee benefits plans and their advisors, what rules are currently in effect and what rules become effective next year. • Understand that the rule fundamentally changes who is considered a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) with respect to retirement plans and IRAs.

Major Subjects:

1. The United States Department of Labor’s new fiduciary definition and conflict of interest regulation became effective June 9, 2017 2017 under transitioning rules and will become fully implemented on January 1, 2018. 2. How the rule fundamentally changes who is considered a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) with respect to retirement plans and IRAs. 3. The history of the new rule and its impact on employee benefits plans and their advisors, what rules are currently in effect and what rules become effective next year.

Advanced Prep:

None

Misc. Information:

Lunch will be served at Piattis starting at 12:00 pm

members $25/nonmembers$35
Level of Difficulty:
Update
Field of Interest:
Specialized Knowledge
Prerequisites:
None
Designed For:
CPAs, attorneys, bankers, financial planners and professional staff

Instructors

Scott Galbreath
Scott Galbreath, J.D., LL.M (Tax) has 20 years of experience in employee benefits and executive compensation, including counseling clients on choosing appropriate retirement, deferred compensation, ERISA and Internal Revenue Code compliance, investments, prohibited transactions and fiduciary duties, as well as drafting plan documents and correcting plans. Mr. Galbreath's areas of expertise include retirement, executive compensation, compliance and correction, mergers and acquisitions and welfare. He has particular expertise with the new rules for deferred compensation under Internal Revenue code section 409A. Scott has written and spoken on new developments in employee benefits throughout his career. Most recently, he has spoken before various professional groups on IRC section 409A compliance, and published on the subject in "The Journal of Pension Benefits." He has also written for the "CCH Pension Plan Guide," and was a principal author of the Chicago Bar Association's comments to the Internal Revenue Service on the initial guidance under Code section 409A. Scott is admitted to the Illinois, as well as California bar. He is an officer of the Sacramento County Bar Association's Taxation Committee, and president of the Sacramento Chapter of the Western Pension and Benefits Conference. He was named Illinois Leading Lawyer in Employee Benefits in 2007. Mr. Galbreath graduated from IIT Chicago-Kent College of Law: LL.M. (Tax) with Honors and J.D.; Elmhurst College: B.A. in Political Science and Urban Studies with High Honors. In 2007, he was appointed as an adjunct professor for the John Marshall Law School's Center for Tax and Employee Benefits Graduate Program.
No Agenda or Materials posted.