The IRS recently announced that it extending the deadline for large employers and self-insured group health plans to distribute their Forms 1095-C to employees and plan participants. The normal deadline to distribute Forms 1095-C is January 31st. This IRS announcement delays the deadline for distributing your 2017 forms until March 2 ...
It always amazes me that there are participants who are owed money by their retirement plans that seem to fall off the radar and go missing. But almost all plans, or at least large plans, have former participants that they are unable to locate that still have balances or are due benefits under their retirement plans. They usually find out a participant ...
Last December, the DOL announced the release of regulations that would operate to modify existing administrative procedures for certain disability claims. These regulations, effective on January 18, 2017, were to be applied to claims for disability benefits filed on or after January 1, 2018. As outlined in our previous blog post, some of the ...
Under the Bipartisan Budget Act of 2015 (Act), the flat-rate and variable rate PBGC premiums increased substantially for 2017. The annual per-participant flat rate premiums increased nearly 8% for 2017, and will experience a similar bump for 2018. Under the Act, the variable-rate rate premiums will increase another $4 from 2017 to $38 per $1,000 ...
Oregon is rolling out its state-run retirement plan for the private sector. Based on publications recently issued by Oregon, the purpose of this program is to encourage and facilitate retirement savings for workers without access to an employer-sponsored retirement savings plan. This program, referred to as the Oregon Retirement Savings Plan ...
Although the equity markets continue on a record breaking tear, many multiemployer pension plans remain severely underfunded. Unfunded pension liability, also referred to as employer withdrawal liability, creates substantial risks for union employers. Non-union employers contemplating signing on with a local union should consider ...
It is fall, time for pumpkin carving, college football rivalries and of course, the IRS’s annual update to the retirement plan limits. After three years, the elective deferral limits for 401(k) and 403(b) plans will get a bump from $18,000 to $18,500. Consistent with last year, the annual compensation limit increased another $5,000 from ...
It’s already October and the MLB post-season is just around the corner, as is the end-of year notice season. The Medicare Part D Creditable Coverage Notice is first on the list and must be provided by employers sponsoring group health plans prior to each October 15th. You must distribute this notice to all individuals enrolled or seeking to enroll ...
To ensure that your nonqualified deferred compensation remains exempt from the most burdensome provisions of ERISA (such as reporting, funding, testing, and certain fiduciary obligations) you must timely file a one-time statement with the Department of Labor. You must submit a Top Hat Plan Statement to the DOL, as described in the regulations,