Is it time for your PEO health plan or retirement plan to be audited? This is something you think would never happen, but you can’t be so sure. It only takes one participant complaint call to put the audit process in motion. In addition, the Department of Labor (DOL) has yearly metrics, just like you
Between 2017-2020 there’s been an upward trend of EBSA enforcement actions against Employee Benefit and Retirement Plans. Here’s why you could be a target for their next investigation or audit... Dear Employer, Did you know that over the last 4 years the Employee Benefits Security Administration (EBSA) has been rigorously investigating PEO’s, Trade Associations, Taft-Hartley
There are exactly 3 criteria you should look for when hiring an Independent Fiduciary to administer, operate or offer advice to your ERISA-covered plan. Dear Employer, Are you thinking about hiring an Independent Fiduciary to assist you in one or more areas of your organization’s Health & Welfare or Retirement Plan? As with accountants and
If you operate an ERISA Plan, chances are you will face compliance issues. Luckily, the DOL offers Voluntary Fiduciary Correction Programs to help you keep your head above water. Dear Fiduciary, Have you ever worried about picking up the phone and hearing the voice of a DOL official on the other line? *Gulp* “Did I
ERISA and the DOL provide a number of Prohibited Transactions Exemptions so you can operate your plan successfully, while staying in compliance with the law. Dear Employer, Our last newsletter focused on the all important topic of Prohibited Transactions under ERISA. At first glance, these prohibited transactions rules can seem overwhelming; and leave you wondering
Understanding how to avoid “Prohibited Transactions” under ERISA can save your organization from DOL violations, fines & penalties for being out of compliance. Dear Employer, One of the biggest mistakes we see Fiduciaries make is engaging in “Prohibited Transactions” under ERISA. Setting up a Master Health Plan or Qualified Retirement Plan for your business is
Form 5500 “audit triggers” are easily avoidable. But, if left unchecked, will land you in the crosshairs of the DOL’s investigative team. Dear Employer, Most organizations that get audited by the DOL’s Employee Benefits Security Administration, or EBSA for short, never saw it coming. Especially back in the 70’s when ERISA plans first came under
What it means. Why it matters. And the 4 levels of fiduciary liability you need to know about. Dear Employer, Fiduciary Liability is a scary term. A lot of professionals in the industry often exploit the fear of being held personally liable by the US government for making mistakes to sell you on their services.