Tune Up Your Leadership Skills in 2013

The advent of the New Year is always full of resolutions. Although we may recognize certain personal areas that need our commitment and growth, don’t forget areas for professional growth.

Correcting Mistakes Can Eliminate Fiduciary Liability

Over the past decade, plan sponsors have become familiar with the voluntary correction programs offered by the IRS and Department
of Labor, including the Service’s Employee Plans Compliance Resolution System (EPCRS) and the DOL’s Voluntary Fiduciary C…

DOL Begins Auditing Group Health Plans for PPACA, GINA, Wellness

The EBSA has updated its audit protocols to include a review of plans’ compliance with the Patient Protection and Affordable Care Act (PPACA), the Genetic Information Nondiscrimination Act (GINA), and wellness programs, in addition to the laundry list …

Losing By Winning: Preventable Expenses

The circumstances behind a recent court decision were typical, and their consequences painfully predictable. Although the plan administrator “won,” that victory does not reflect the huge — and entirely unnecessary — cost to the plan sponsor in terms of overhead and legal fees.

Failure to Timely Allocate Forfeitures Can Be Costly

Sponsors of 401(k) plans often fail to timely use or allocate forfeitures, thereby potentially disqualifying the plan. Recent IRS audits have revealed a renewed focus on the proper use of forfeitures — making compliance a top priority for plan sponsors.

Court Holds TPA as ERISA Fiduciary

In a somewhat surprising opinion, a Michigan federal trial court recently held that a third-party administrator (TPA) of two self-funded employer health plans was an ERISA fiduciary. As a result, the TPA was held liable for breaching its fiduciary dut…

Same-Sex Couples Still Not ‘Married’ For Federal Tax Purposes

The Internal Revenue Service (IRS) has recently issued guidance, through answers to frequently asked questions (FAQs), clarifying how same-sex couples who are in state-recognized domestic partnerships, civil unions, or marriages should file their feder…

 

Fairmount Benefits Company

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Radnor, PA 19087
610-567-0175
800-527-3615

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