4 pages. "The proposed form revisions and the DOL's implementing regulations together are intended to address changes in applicable law, the employee benefit plan and financial market sectors, as well as corresponding shifts in the data needed for the Agencies' enforcement priorities, policy analysis, rulemaking, compliance assistance, and educational activities.... As Form 5500 information is open to public inspection, not only would expanded data collection assist in the Agencies' research and policymaking objectives, public access to this information would enable interested private sector and other governmental stakeholders to perform data-based research or help plan sponsors, fiduciaries, and participants and beneficiaries better understand their plans and plan investments.

"The proposed revisions fall under the five broad goals to improve employee benefit plan reporting for filers, plan participants and beneficiaries, the public, and the Agencies: [1] Modernize financial reporting.... [2] Provide greater information regarding group health plans.... [3] Enhance data mineability.... [4] Improve service provider fee information.... [5] Enhance compliance with ERISA and the Code....

"The DOL's proposed regulations would update the requirements for certifications for limited scope audits ... The proposed changes would make the certifications more detailed and informative, and enhance the DOL's ability to review limited scope audits, which cover over $3.4 trillion in plan assets."  MORE >>