Description
Gain an understanding of how to explain better the differences in defined benefits plans and contribution plans.
Employers have a wide range of deferred compensation plans they can provide employees as a method to save for retirement. The impacts to payroll can range, and understanding the differences between the different plans can be very confusing for the payroll professional. This topic will help the payroll professional be better at understanding commonly used plans and how in payroll these plans affect them.
Date: 2022-10-25 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to explain the difference between defined benefits plans and defined contribution plans.
* You will be able to discuss how to properly report plans to the IRS and employees on the W2.
* You will be able to recognize the difference between a defined benefit plan and a defined contribution plan.
* You will be able to review annual contribution limits and catchup limits.