by David Torrillo | Apr 6, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
The Employee Plans Compliance Resolution System (“EPCRS”) sets forth a comprehensive system of correction programs for sponsors of retirement plans that are intended to satisfy the requirements of § 401(a), 403(a), 403(b), 408(k), or 408(p) of the Internal Revenue...
by David Torrillo | Apr 1, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
The Employee Plans Compliance Unit (EPCU) conducted a Voluntary Compliance Follow-Up project to determine if plan sponsors completed the corrections they agreed to in their Voluntary Correction Program (VCP) compliance statements. Read...
by David Torrillo | Jan 21, 2015 | Employee Benefit Plans, Forms and Procedures, Retirement - 401(k), 403(b)
We get this question a lot. The instructions to the Form 5500 give the technical answer. However, below is a quick summary of those requirements. Every situation is unique and for 2023 Form 5500s, the DOL just updated the rules. Read...
by David Torrillo | Oct 3, 2014 | Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)
As detailed in an article by Greg Stohr, 401(k) Fees at Issue as Court Takes Edison Worker Appeal, the U.S. Supreme Court will consider giving 401(k) participants more power to sue their plans over investments that impose excessive fees, accepting an appeal...
by David Torrillo | Aug 19, 2014 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The DOL recently issued Field Assistance Bulletin 2014-01 which details procedures fiduciaries should take to find missing participants and properly distribute account balances. The Bulletin suggests that fiduciaries use certified mail, check related plan and...
