Regulatory agencies are increasingly relying on specific red flags to hone in on potential problems for employee benefit plans. Data collected through Form 5500 filings is being leveraged more aggressively to determine which plans to audit. The number of participants in total and the total coming in and out of the plan each year, as ... Read More ›
Line 4l of Schedule H of the Form 5500, Annual Return/Report of Employee Benefit Plan, asks “Has the plan failed to provide any benefit when due under the plan?” When this question was added to the 2009 Form 5500, the instructions did not include examples of what constituted a reportable failure to provide any benefit ... Read More ›
Under ERISA, plan fiduciaries have a duty to act prudently. Increasingly, this has been understood to consist of protecting health plan information. To ensure you have met your fiduciary obligations, you should work with your plan professionals to design procedures for safeguarding information that is stored onsite and with third-party vendors. HIPAA established important national ... Read More ›