Compliance

As the DOL prepares to release its regulations, Ceridian’s Jim O’Connell shares how advisers can assist employers with compliance.

Now that the sharply contested rule is the law of the land, a senior Labor Department official says the department looks to help with compliance, not find targets to sue.

Now that the sharply contested rule is the law of the land, a senior DoL official says the department looks to help with compliance, not find targets to sue.

The DOL’s proposed changes are expected to be released as early as this month and will have a dramatic effect on employers’ compensation programs, according to the Partnership to Protect Workplace Opportunity.

Often overlooked, handbooks are an important form of documentation that the IRS or DOL will most likely request during an audit, says attorney Patricia Moran.

Often overlooked, handbooks are an important form of documentation that the IRS or DOL will most likely request during an audit, says attorney Patricia Moran.

With reporting requirements soaring, brokers are turning to their own regulatory division to help clients, says Richard Asensio, director of compliance at Burnham Benefits.

ACA reporting requirements have brought increased scrutiny of employer-sponsored healthcare plans and the government is largely expected to respond to red flags through audits.

The Department has stepped up employer compliance checks, for which brokers should be prepared, according to Zynia CEO Julie Hulsey.

Bill Kite and D&S Agency are coming up with creative ways employers can meet health care reform requirements.

Chris Schutt of Digital Benefit Advisors says ACA compliance requirements present one of the biggest challenges for clients.

It is not unheard of for violations to cost a company millions of dollars plus attorney’s fees, one expert cautions.

It is not unheard of for violations to cost a company millions of dollars plus attorney’s fees. An employer could also end up paying for their ex-employees’ health coverage if premiums are collected improperly.

Employer clients that have yet to start preparing for the proposed changes are already falling behind, lawyer Tammy McCutchen said during SHRM’s legislative conference.

Companies that have yet to start preparing for the DOL’s proposed changes are already falling behind, said lawyer Tammy McCutchen during SHRM’s legislative conference in Washington, D.C.

Large employers are accustomed to intricate benefit rules, including those pertaining to the shared responsibilities of related businesses, but the ACA now requires individualized rather than consolidated reporting.

New regulations are exceedingly complex, and the penalties for non-compliance are steep.

With dozens of state and federal agencies enforcing hundreds of employment and benefits-related laws, advisers can help new employers avoid common administrative missteps.

The levy on high-cost plans is on the horizon and advisers need to prepare for it, says Davin Millholland.

The DOL reported that 67.2% of employee benefit plans investigated in 2015 resulted in financial penalties or other corrective actions. Are your clients ready?