February 2-3, 2023 - The Florida Hotel, Orlando

What an IRA merry-go-round 2020 was and continued to be in 2021 and 2022. Since the SECURE Act was signed into law on December 20, 2019, effective January 1, 2021, you would think all the IRS clarifications would have been released. And the IRS did propose regulations in February 2022 which were intended to clarify the 2019 SECURE Act but have, in some cases, increased industry confusion and frustration. Moreover, we are still wrestling with some of the residual effects of the CARES Act of 2020. Even further, although the dust has yet to settle on the 2019 SECURE Act, the president has now signed SECURE Act 2.0 into law.
 
SECURE Act 2.0 contains numerous changes (90+) affecting both IRAs and employer-sponsored retirement plans, with some changes – such as the increase in the RMD starting age to age 73 for those turning 72 after 2022 – effective immediately.
 
Following is a partial list of the changes included in the SECURE Act 2.0 that will affect IRAs, that we will cover in the upcoming training sessions.

• Increase in RMD starting age (73 beginning in 2023, transitioning to age 75)
• Reduction of the 50% excess accumulation penalty for RMD failures
• Roth contributions for SEP and SIMPLE IRA arrangements
• Expanded opportunities for Qualified Charitable Distributions
• Federal matching contributions for qualified savers (IRA and employer-sponsored plans)
• Significantly increased SIMPLE IRA employer funding opportunities
• New penalty exceptions for early distributions (including domestic abuse, terminal illness and disaster recovery)
• Expanded beneficiary distribution options for special needs trusts
• Significant new/enhanced tax credits for small business plans

The bottom line? There are simply too many issues and potential pitfalls financial institutions will experience without a working knowledge of these changes. Rules have changed, new forms have been introduced, IRA software has been updated and there are more changes yet to come. 

Day One – Basic IRA Issues: You may be thinking, “since so much has changed I probably don’t need to know the old rules.” Unfortunately, you will need to know both the old and the new rules because most of the IRA rules prior to 1/1/2020 are “grandfathered.” But don’t worry, you will have the totally updated IRA “Red” Book Training manual with lots of “cheat sheets” to show you the “before” and “after.” During day one, we’ll provide you with a solid grounding of all the applicable rules, both old and new.

Day Two – Advanced IRA Issues: During day two, we’ll get into the nitty gritty of the new distribution regulations, exploring—in depth—how these new rules impact both IRA owners and IRA beneficiaries. After thoroughly dissecting the new rules and their impact on IRA owners and beneficiaries, we’ll discuss concrete steps your financial organization can take to help ensure ongoing compliance while also providing top-notch customer service.

This intensive 2-day live training format will help you pull it all together by helping you learn the following: 

1. Important IRA terminology,
2. The documents required to establish IRAs,
3. The fundamentals of IRA transactions and the processes for conducting and reporting (if applicable) those transactions, 
4. The similarities and differences between the various IRA plan types: Traditional, Roth, SIMPLE and SEP; and on day two
5. The step-by-steps of rollovers and transfers; IRA distributions to IRA owners and beneficiaries, and IRS reporting, including the many nuances to these rules created by the SECURE Act of 2019 and the CARES Act of 2020.

Note: since these sessions are not vendor-form-specific, feel free to ask questions about your plan documents and/or any transaction forms use.

Whether you are looking to gain basic knowledge of IRAs, raise your comfort level, or sharpen your skills with the most up-to-date rules and regulations, this two-day format will cover it all. The newly revised full 280-page IRA Manual will be provided to you at this event. 

​Who Should Attend?
Everyone involved in IRAs at your financial institution including but not limited to new account representatives, certificate of deposit personnel, savings counselors, accountholder service representatives, and investment and trust personnel who are involved in the opening, selling, marketing, and/or administration of IRAs. Additionally, any compliance officers and other officers/managers who oversee IRA operations and may be responsible for troubleshooting IRA owners’ questions and/or concerns. This is also a fitting refresher for experienced IRA personnel who like a slower paced format to cover all the new changes in a comprehensive manner.

Registration Prior to 1/2/23
FBA Member: $600.00/person
Non-Member: $1,300.00/person

​Registration After 1/2/23
FBA Member: $650.00/per person
Non-Member: $1,300.00/per person

register now

download brochure

Topics Covered

Day 1:  IRA Basic Issues (9:00am – 4:00pm)

• Introduction to IRAs and terminology
• IRA plan establishment including designation of beneficiary (Not forms specific)
• IRA contribution eligibility, limits and processes
• Overview of IRA distributions and processes
• Basic portability overview and processes

Day 2: IRA Intermediate/Advanced IRA Issues Agenda (9:00am – 4:00pm)

• Legislative update
• Portability deep-dive
  • IRA-to-IRA transfers and rollovers
  • Employer-sponsored retirement plan-to-IRA rollovers
  • IRA recharacterizations
  • Roth IRA conversions
• Distribution deep dive
  • Traditional (and SEP and SIMPLE) IRAs
    • Normal distributions
    • Early distributions
    • Required minimum distributions (RMDs)
  • Roth IRAs
    • Qualified distributions
    • Nonqualified distributions
  • Beneficiary rules and distributions

• IRA withholding and reporting

Speaker

Loni Porta is the director of education at Convergent and has been with the company since 2004. An industry leader in IRA, HSA and retirement plan education, Loni plans, budgets for and builds training and education products and solutions for financial organizations nationwide. Loni also teaches courses in all delivery formats. She has mastered various learning management solutions as well as various online courseware development tools. An avid student of learning styles and adult learning principles, Loni incorporates her skills thoughtfully into Convergent’s training and education products and services. Loni attended North Dakota State University in Fargo, ND, and came to Convergent after her tenure at Universal Pensions, Inc. (UPI), a nationally recognized retirement consulting and training firm in central MN. During her tenure at UPI, Loni helped design the industry’s first IRA-specific designation program (the American Bankers Association's Certified IRA Services Professional (CISP) program) and NAFCU’s Certified IRA Professional program.

​Event Contact: Matthew Bennett
Phone: 850-701-3515
Email: [email protected]