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Recent Updates

Certain provisions of ARPA may be available to Labor Organizations and some Benefit Plans

Mar 15 in Employee Benefit Plan News, Labor News, Tax Info
On Thursday, March 11, 2021, the President signed into law the American Rescue Plan Act of 2021 (ARPA). ARPA is a $1.9 trillion stimulus bill that includes billions of dollars for small businesses and not-for-profit organizations. Title V, Sec 5001 amended the CARES Act in relation to the Paycheck Protection Program (PPP). This included creating a new category ... Read More ›

Lost or Missing Participants? The DOL Provides New Guidance

Jan 18 in Employee Benefit Plan News, Tax Info

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 ›

The Benefits of Payroll Compliance Audits

Sep 04 in Employee Benefit Plan News

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 ›

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