Department of Labor Expands Audit and Enforcement Focus, Imposing $1.27 Billion in Fines Excerpt: “According to the National Association of Plan Advisors, in the 12 months ending Oct. 1, 2012, more than 300 investigations resulting in $1.27 billion in fines were levied by the United States Department of Labor’s Employee Benefits Security Administration (EBSA). EBSA… Continue reading
ASPPA Demands Interagency Coordination on Multiple Employer Plan Reporting
The following is a statement from Craig P. Hoffman, General Counsel and Director of Regulatory Affairs of ASPPA to the U.S. Department of Labor (DOL) and the Internal Revenue Service (IRS) requesting clarification and transitional relief for filling of Forms 5500 and 8955-SSA for multiple employer plans obligated to report under both the ERISA and the Internal Revenue Code (IRC).