Whether you are passing or failing your discrimination testing, well, this is maybe a bit more timely if you are failing testing, this is a great episode to help get your arms around some of the key concepts and fundamentals behind coverage and discrimination testing. My guest is Doug Van Galder, a Compliance Analyst with the ERISA Law Firm Boutwell Fay, who has worked with countless employers over his 35 year career to help them navigate the sometimes challenging testing waters. We start with the basics, discuss strategies to improve testing results and believe it or not, we don’t even mention the concept of safe harbor until the very end! As you’ll hear, its all about getting the math to work in your favor!
Just a quick reminder to provide your input on the one question you have always wanted to ask your employees but have been afraid to. We have received some great questions already, but definitely want to hear from some more employers. Go to 401kfridays.com/question to learn more and for the link to the survey.
We did have a couple gremlins who disrupted the clarity of our connection in a few spots early on, while everything is a understandable, we will do our best to keep them contained in the future.
Guest Bio
Douglas Van Galder is a Compliance Analyst who is committed to the favorable tax-qualified status and success of the private and public pension systems in America. Therefore, Doug assists Boutwell Fay LLP Clients and their service providers in properly administering retirement plans that remain compliant and deliver the intended benefits.
Boutwell Fay LLP is a highly rated, women-owned law Firm specializing in employee benefits and ERISA. We have seven Attorneys with Offices in Newport Beach, CA and New York City, NY. Boutwell Fay LLP is the only boutique law firm in Orange County, CA that focuses exclusively on employee benefits and ERISA. The Firm provides high quality legal services normally associated with large law firms, while its smaller size allows us to be more accessible to our Clients and more responsive to their needs. The Firm helps Clients with legal issues that arise in the context of: Qualified and Non-Qualified Plans, Health and Welfare Plans, Plan Corrections and Government Audits, ERISA and Fiduciary Consulting and ERISA Claims and Disputes.
In his capacities as a Compliance Analyst, Third Party Administrator (TPA), Record Keeper, Executive, Plan Sponsor/Trustee and Fiduciary Administrator, Doug has amassed 34 years of experience in the intricate business development, compliance and consulting aspects of retirement plans. Most recently, Doug was an Executive Vice President with both QBI, LLC and Fiduciary Administration, LLC serving as Defined Contribution Practice Leader and a Fiduciary Administrator, respectively. He previously founded and was the President of Strategic Pension Services, Inc. (SPS), where he led expert teams of Consultants and Administrators. SPS was acquired by QBI, LLC in January of 2015.
Doug is an Enrolled Retirement Plan Agent and earned the American Society of Pension Professionals & Actuaries' designation of Qualified Pension Administrator. He is also the President for the Orange County Chapter of the Western Pension & Benefits Council.
401(k) Fridays Podcast Overview
Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over fifty prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!
