IRS ALERT – Responsibilities for Plan Sponsors: Maintaining Proper Hardship and Loan Documentation

Tuesday, April 26, 2016

In a recent IRS Alert, Plan Sponsors were reminded by the IRS of their fiduciary responsibilities related to the hardship and loan documentation process, focusing on the required documentation to be maintained. The IRS stated that Plan Sponsors are ultimately responsible for maintaining plan hardship and loan distribution documents. Failure to provide supporting documents during […]

November 2015 ERISA News

Thursday, November 5, 2015

2015 Employer Reporting Requirements under the Affordable Care Act (ACA) Applicable Large Employers (generally those averaging 50 or more full-time equivalent employees) who are subject to the ACA employer mandate must begin reporting “minimal essential coverage” (MEC) for their health plans in 2016 for the 2015 year. Form 1095-C must be prepared for each full-time […]

April 2015 ERISA News

Wednesday, April 22, 2015

DOL issues proposed rule prohibiting ‘conflicted advice’ It has been a long time coming, but after a nearly five-year odyssey the Department of Labor (DOL) on April 14 unveiled a proposed regulation that redefines who a plan fiduciary is — and makes it clear that the Obama administration intends the rule to be a way […]

February 2014 ERISA News

Saturday, February 1, 2014

Deadline Extended For Pre-Approved Defined Benefit Plans The Internal Revenue Service has extended the deadline until February 2, 2015, to submit on-cycle opinion and advisory letter applications for pre-approved defined benefit plans for the second six-year remedial amendment cycle (Announcement 2014-4). Without this extension, the applications for these plans would have been due by January 31, 2014. The […]

January 2014 ERISA News

Wednesday, January 1, 2014

Meeting Your Fiduciary Responsibilities Offering a retirement plan can be one of the most challenging, yet rewarding, decisions an employer can make. The employees participating in the plan, their beneficiaries, and the employer benefit when a retirement plan is in place. Administering a plan and managing its assets, however, require certain actions and involve specific […]