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Beware a Delay in Depositing Participant Benefit Plan Contributions
HUB International 
July 17, 2020 "Most plans do not have a trust to hold participant contributions.... [E]mployers would be well advised to take the following steps to ensure their ability to utilize the DOL non-enforcement policy: [1] Make sure participant contributions are used to pay benefits, insurance premiums, and/or plan expenses within 90 days of when they are collected from participants.... [2] Check your cafeteria plan to see if it includes language discussing collecting COBRA or other after-tax contributions." MORE >> |
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