Our next Clear60 interactive event series aims to help plan sponsors prepare for compliance priorities in 2022. With penalties on the rise (again), and the agencies that monitor and enforce compliance ratcheting up their audit activity, it’s more important than ever to ensure compliance with...
Our next Clear60 interactive event series aims to help plan sponsors, service providers, and participants understand the DOL’s enforcement priorities for 2022, how to avoid common mistakes, and what needs to be done to prepare for an audit before the DOL comes knocking....
A final rule issued by the U.S. Department of Labor (DOL) updated the standard used to calculate overtime pay under the Fair Labor Standards Act (FLSA). Read the following article to learn more about this compliance update. ...
The best way to survive a Department of Labor (DOL) audit is to avoid them, but audits happen. Continue reading learn about the spectrum of risks....
Do you know how to lower your plan’s audit risk? Plans of any size can be selected for an audit by the IRS and the DOL. Read on to learn more. ...
When a company is audited, the auditor sent by the DOL will vary in his or her experience of conducting audits. If the person is a novice, then that often means the auditor might ask for more information, whereas someone more experienced knows exactly what...
Not many things incite more fear than receiving a notice that you’re about to have an audit, especially from the Department of Labor (DOL)....
Original post benefitsnews.com A retirement plan sponsor has a fiduciary duty to ensure that the plan complies with all federal and state rules and regulations. Plan sponsors must follow the plan’s provisions without deviating from them unless the plan has been amended accordingly. Failure to follow...
Whatever process an employer chooses to follow in order to prepare for the on-site investigation, preparation, organization, and accessibility of information are critical to an efficient audit. Here are some key steps in how to make what is scheduled to be a multi-day audit into...
Perhaps you have heard that the DOL expressed its goal to audit all employee benefit plans by the end of 2015. A daunting task, yes, but most agree the task is logistically impossible. Are you prepared for a DOL audit? Are you prepared for the...