by David Torrillo | Jul 11, 2016 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
Background The Department of Labor published in the Federal Register on June 30, 2016, an interim final rule to adjust for inflation the civil monetary penalties enforceable by the Department of Labor. The information below from the DOL describes the adjustments made...
by David Torrillo | Jul 5, 2016 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
Determination Program On June 29, 2016, Revenue Procedure 2016-37, generally effective January 1, 2017, was released changing the: Determination Letter Program for tax-qualified individually designed plans (IDPs); and Requirements for when plan amendments must be...
by David Torrillo | Apr 6, 2016 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Department of Labor (“DOL”) on April 6, 2016 issued its final rules to address fiduciary standards. The U.S. Department of Labor, Employee Benefits Security Administration’s fact sheet of the new rule follows: Summary Since 1974, when Congress...
by David Torrillo | Jan 25, 2016 | Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)
On a recent AICPA Employee Benefit Plan Audit Quality Center webcast, the Chief Accountant of the Department of Labor expressed the DOL’s concerns over cybersecurity. Specifically, the DOL believes that electronic plan records, whether they are maintained...
by David Torrillo | Dec 9, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
For calendar year plans, the maximum extension due date for Form 5500 series (Annual Return/Report of Employee Benefit Plan) is back to 2 1/2 months or October 15th. An employer that maintains a pension, annuity, stock bonus, profit-sharing or other funded deferred...
by David Torrillo | Oct 23, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The U.S. Labor Department has issued new guidance regarding economically targeted investments (ETIs) made by retirement plans covered by the Employee Retirement Income Security Act. ETIs are investments that are selected for the benefits they create in addition to the...
