Understanding Employee Benefits

High Points of Trump’s Retirement Security Executive Order: MEPs, Benefit Plan Disclosures, Required Minimum Distribution Changes Anticipated

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On August 31, 2018, President Trump signed an executive order outlining the administration’s priorities for American retirement plans. Emphasizing that as many as 34 percent of workers do not have access to a workplace retirement plan, the order outlines the administration’s plan for increasing workplace retirement plan availability. The first... Read More

Topics: Fiduciary Guidance, Form 5500s, Retirement Plans, Uncategorized

DEPARTMENT OF LABOR AND AICPA COMMENT ON DEFICIENT EMPLOYEE BENEFIT PLAN AUDITS

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At a recent American Institute of Certified Public Accountants (”AICPA”) conference, the Deputy Assistant Secretary of the Department of Labor Employee Benefits Security Administration reportedly commented that the ERISA benefit plan audits are deficient in over 1/3 of the audits they receive according to their recent survey of filings. In... Read More

Topics: Fiduciary Guidance, Form 5500s, Retirement Plans, Welfare Plans

Filed Your 2013 Health and Welfare Plan 5500s? Did you Include Your M-1 Attachments?

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A provision of the Affordable Care Act of 2010 (ACA) included additional reporting requirements and greater U.S. Department of Labor (DOL) oversight of Multiple Employer Welfare Arrangements (MEWAs). The DOL’s Employee Benefits Security Administration (EBSA) issued final rules earlier in 2014 which clarified the requirements for initial and annual Form... Read More

Topics: Cafeteria Plans, Form 5500s, Health Care Reform, Health Plan, Welfare Plans