To the relief/delight of many CPAs who audit employee benefit plans, a recent law that would have extended the Form 5500 deadline was repealed on December 4, 2015. As background, on July 31, 2015, President Obama signed the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (the “2015 Act”). Among other provisions, […]
On November 9, the litigants in Kruger v. Novant Health, Inc. submitted a proposed settlement agreement (the “Agreement”) for approval to the United States District Court for the Middle District of North Carolina (the “Court”). Under the Agreement, Novant Health, Inc. and fiduciaries of various Novant Health, Inc. retirement plans (the “Defendants”) will pay $32 […]
In the DOL’s ERISA Interpretive Bulletin 2015-02 (the “IB”), which became effective on November 18, 2015 (without a public comment period), the DOL begins by explaining that “concern over adverse social and economic consequences of inadequate retirement savings levels has prompted several states to adopt or consider legislation to address this problem.” The IB provides […]
On December 4, the DOL released an advance copy of the 2015 Form 5500 (for large plans) and Form 5500-SF (for small plans). It is always interesting to review the newly-released instructions each year to see what changes are being made to the Form 5500 series. For 2015, important changes have been made, in the […]