In this article from Benefits Pro, the DOL auditors are taking action on missing participants in retirement plans. The Department of Labor’s auditors are pushing harder on plan sponsors to make better efforts to find missing terminated vested participants in retirement plans. In return, there’s a call for more guidance on just...
Are you worried that your company's retirement plan is not up to government standards? If so take a look at this article from HR Morning about what the DOL and IRS are looking for in retirement plans by Jared Bilski Two of the most-feared government agencies for...
Content provided by our partner, United Benefits Advisors, (UBA) by Danielle Capilla Employers that are subject to the McNamara-O’Hara Service Contract Act (SCA), Davis-Bacon Act (DBA), and Davis-Bacon Related Acts (Related Acts), and who are considered an applicable large employer (ALE) under the Patient Protection and...
Department of Labor fiduciary rule survives its first challenge, by Nick Thornton The National Association for Fixed Annuities has lost its challenge to the Department of Labor’s fiduciary rule. In a decision issued today in the United States District Court for the District of Columbia, Judge Randolph Moss...
October was a busy month for administrative rulemaking in the employee benefits world. The Internal Revenue Service (IRS) released final instructions for Forms 1094-C and 1095-C, guidance on the taxability of health care sharing ministry employer contributions, and health care information reporting tips. The Department of...
Interesting read about the new DOL final rule from Employee Benefit Adviser, by Leanne Mehrman The U.S. Department of Labor acted on President Obama’s Executive Order 13706 (EO) and released a final rule implementing the requirements for federal contractors and subcontractors to provide employees with paid...
Compliance Recap Provided by our Partner, United Benefit Advisors September was not a very active month for administrative rulemaking in the employee benefits world. The Internal Revenue Service (IRS), Department of Labor (DOL), and Pension Benefit Guaranty Corporation (PBGC) extended the public comment period for the...
After years of anticipation, the U.S Department of Labor (DOL) has finally released the revised regulations affecting certain kinds of employees who may be treated as exempt from the federal Fair Labor Standards Act's (FLSA) overtime and minimum-wage requirements. If you currently consider any of...
With proposed changes to Form 5500, small business may need to be prepared to stay in compliance as exemption statuses may change. See the article by Joseph K. Urwitz, Srarh Engle and Megan Mard from Employee Benefit Adviser. Historically, Form 5500 has served primarily as an information...
During the month of July numerous new regulations were issued or proposed by federal agencies, and existing forms and processes were updated. In particular, penalties for various ERISA violations were increased, a major overhaul to Form 5500 filings was proposed, and draft 1095-C and 1094-C...