by David Torrillo | Sep 29, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases
On September 21, 2015, the IRS announced a new Form 5500 compliance project focusing on plan years ending in 2011, as detailed below. Plan sponsors should ensure that all required Form 5500s have been filed and respond to any notice received from the Employee Plans...
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 | Nov 18, 2014 | Employee Benefit Plans
The Pension Benefit Guaranty Corporation on November 17, 2014 released its Annual Report, which showed that PBGC’s deficit increased to about $62 billion in Fiscal Year 2014, largely due to the declining condition of a few multiemployer plans. Read...
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...
by David Torrillo | Aug 8, 2014 | Employee Benefit Plans, News and Press Releases
Congress has passed, and the President is expected to sign, the Highway and Transportation Funding Act of 2014 (the Act). Included in the Act is a revenue-raising provision which expands the use of 25-year smoothing for pension plan funding purposes. Read...
