In early 2016, employers with 50 or more full-time equivalent employees are required to submit new tax forms to employees and the IRS for the 2015 plan year. (Note that in December 2015, deadlines for 1095 employee distribution and 1094 filings were extended.*) In the video, Don Garlitz, Senior Vice President, bswift, answers key compliance questions including: Should taxpayers receive Form 1095 if they are not covered? What effects do employer wellness programs have on reporting plan affordability to the IRS? And more.
*Learn more about these changes from U.S. News and World Report.
A U.S. District Court has ruled that Edison International failed in its fiduciary duty by including high-fee retail share mutual funds in its 401(k) plan when lower-fee institutional ones were available.
Wellness is a hot topic, but employers are in very different stages of adoption and are looking for low cost, easy to administer tactics. Click here to watch a 60 Seconds Smarter video to learn about one easy solution.