PLANSPONSOR Weekend Newsdash
Week ending March 1st, 2019
Retirement plan sponsors’ fear of audits or enforcement actions can give them a sense that regulators are “big, bad wolves” coming to blow their house down. But, regulators are not bad guys always looking to subject plan sponsors to legal trouble. Issuance of reminders about how to comply with retirement plan rules, invitations to voluntarily correct errors, education events about plan sponsors’ responsibilities and proposals to simplify compliance are just some ways retirement plan regulators offer help to plan sponsors.
Editor's choice
IRS Updates FAQs for Adopting a Pre-Appproved Retirement Plan Document
The web page provides information for retirement plan sponsors who have individually designed retirement plan documents but want to adopt a pre-approved prototype or volume submitter plan document.Read more >
DOL Invites Correction for Failure to Timely Remit Contributions
An update from law firm Masuda, Funai, Eifert & Mitchell, Ltd. says that based on reviews of Form 5500s, the DOL’s Employee Benefit Security Administration (EBSA) is sending “no action” letters to plan sponsors.Read more >
DOL’s Next Fiduciary Responsibilities Seminar Heading to Portland
In addition, the agency is holding a three-day webcast series in March.Read more >
PBGC Issues Proposal for Computing Withdrawal Liability Under Multiemployer Plans
The proposed amendments would affect the determination of a withdrawing employer’s liability under a multiemployer plan and annual withdrawal liability payment amount when the plan has had benefit reductions, benefit suspensions, surcharges or contribution increases that must be disregarded.Read more >
IRS Clarifies When Employers May Recoup Mistaken HSA Contributions
In Information Letter 2018-0033, the IRS offers some examples of the type of errors which may be corrected—expanding on previous guidance.Read more >
2021 Target-Date Fund Survey
The DOL Has Begun Retirement Plan Cybersecurity Audits

Attorneys say the requests plan fiduciaries have received ask for a broad amount of information and documentation, and they urge fiduciaries to act on the DOL’s recent guidance.

2020 Recordkeeping Survey
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
ACA Ruling Signifies Relief for Employers

But future expansions of the law could have plan sponsors reconsidering their benefits offerings, experts say.

Editorial: Alison Cooke Mintzer


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