As plan administrators know all too well, attempting to locate nonresponsive (lost or missing) participants is an ongoing and often challenging process. On January 12, 2021, the Department of Labor (DOL) issued guidance in relation to missing participants in three separate components: Field Assistance Bulletin (FAB) 2021-01, Compliance Assistance Release No. 2021-01, and a separate ... Read More ›
Why Payroll Compliance Audits?
Trustees of employee benefit funds have a fiduciary responsibility to collect all contributions due to the fund. Trustees failing to carry out this fiduciary responsibility can be held personally liable under the Employee Retirement Income Security Act of 1974 (ERISA) and ordered to make good on all losses to a plan.
Payroll audits ... Read More ›