Employee Benefit Plans Articles
Posted by Thomas Burns on August 27, 2019
Plan sponsors are ultimately responsible for plan administration and operation and should know what to expect if they are selected for a Department of Labor audit.
Posted by Thomas Burns on February 13, 2019
Part of offering a defined contribution plan, whether a 401(k) or a 403(b) plan, is making sure that the money participants contribute from their paycheck is deposited in their retirement account in a timely manner. While this might seem like a relatively minor and simple task in the scope of a plan sponsor’s fiduciary duties, the Department of Labor (DOL) views non-compliance with remittance rules as a major issue, and missing deadlines for deposits—even by a couple of days—can carry significant penalties.
Posted by Thomas Burns on January 22, 2019
Last year brought many challenges to the employee benefits world: wide-ranging tax reform; European controls on electronic data protection; a divided United States Congress; market fluctuations; and persistently low unemployment, among others.