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DOL Strategic Enforcement Plan

Effective April 6, 2000. "The Pension and Welfare Benefits Administration (PWBA) is publishing this Strategic Enforcement Plan (StEP) for the purposes of informing the public of its current goals, priorities, and methods, and promoting compliance with Title I of the Employee Retirement Income Security Act of 1974, as amended (ERISA).... There are three current national investigative priorities: plan service providers, health care plans, and defined contribution pension plans."

Is It Time to Refresh Your Voluntary Benefits?

"Employers can analyze the employee population by conducting an employee census, or other type of workforce evaluation to help determine the group make up. Retirement preparation may be important for the 'baby boomers', technological enhancements and remote access may be more of a priority for Millennials, and supplemental medical benefits more critical for Generation Xers -- all needs which can be incorporated into a voluntary benefits offering."

Seven Reasons for Hiring a Dedicated Retirement Plan Advisor

9 pages. Topics covered: "[1] Meeting Fiduciary Duty ... [2] Establishing Investment Policies and Procedures ... [3] Managing a Request-for-Proposals for Service Providers ... [4] Investment Manager Search and Selection ... [5] Investment Manager Replacement ... [6] Performance Reporting ... [7] Conduct Ongoing Due Diligence on Service Providers and Investment Managers."

A Checklist of Questions Plan Sponsors Should Ask About Their Retirement Plans, Part 2

"Are you prepared to monitor your plan's service providers? ... Have you identified parties-in-interest to the plan and taken steps to monitor transactions with them? ... Are you aware of the major exemptions under ERISA that permit transactions with parties-in-interest, especially those key for plan operations (such as hiring service providers and making plan loans to participants)? ... Have you reviewed your plan document in light of current plan operations and made necessary updates? After amending the plan, have you provided participants with an updated SPD or SMM? ... Do those individuals handling plan funds or other plan property have a fidelity bond?"

A Checklist of Questions Plan Sponsors Should Ask About Their Retirement Plans, Part 1

"Have you identified your plan fiduciaries, and are they clear about the extent of their fiduciary responsibilities? ... If participants make their own investment decisions, have you provided sufficient information? ... Have you considered ways to limit fiduciary liability under the plan?... Are you aware of the schedule to deposit participants' contributions in the plan, and have you made sure it complies with the law? ... If you are hiring third-party service providers, have you looked at a number of service providers and made meaningful comparisons?"

2019 ACA Compliance Overview: Cost-Sharing Limits

"Review your plan's out-of-pocket maximum to make sure it complies with the ACA's limits for the 2019 plan year ($7,900 for self-only coverage and $15,800 for family coverage).... For 2019, the out-of-pocket maximum limit for HDHPs is $6,750 for self-only coverage and $13,500 for family coverage.... [C]onfirm that the plan will coordinate all claims for EHBs across the plan's service providers or will divide the out-of-pocket maximum across the categories of benefits, with a combined limit that does not exceed the maximum for 2019."

Checklists for Investment Policy Statements

"Get started on your IPS by gathering all of your plan documents (trust documents, summary plan descriptions, written minutes, current vendor service agreements, investment performance reports, enrollment reports, participant educational material, procedural manuals and Form 5500) ... After you have reviewed your plan documents, you are ready to write your IPS.... It is not enough for you to simply write an IPS. You must also follow it, communicate it and review it. An ignored IPS is evidence that you are not managing or using the plan the way it was intended."

Federal vs. New York Family and Medical Leave Laws -- Part 3

"The comparison chart [in this article details] federal vs. New York family and medical leave laws regarding an intermittent leave, reinstatement rights and the maintenance of health benefits during leave."

Can You Invest Your Way to DB Plan Termination?

"All sponsors of frozen plans knew that liabilities would increase even though benefit accruals were fixed. This would be due to simple aging of the participant population -- generally, very manageable. Combined with this historic investment performance over the past ten years, there was an expectation the funding deficits would return to pre-2008 levels. What was not anticipated was the corresponding increase in 'carrying costs' and an extremely low interest rate environment.... The single biggest cost increase of those listed has been PBGC premiums."

You've Been Put on Notice

"As we enter the fourth quarter of 2019, it's important for sponsors of calendar year retirement plans to be mindful of certain required participant notices.... Sponsors with calendar year plans that extended their Form 5500 deadline to Oct. 15 may be able to align the delivery of any applicable notices into a single mailing event."