ERISA Roundup - Q1 2019

A NOTE FROM BDO’S NATIONAL ERISA PRACTICE LEADER

Spring is here and BDO’s ERISA Center of Excellence is celebrating a fantastic first quarter along with National Employee Benefits Day on April 2.

In the past quarter, we’ve stuck to our resolutions to bring new insights and resources we hope you’ll find helpful – a new interactive requirements calendar to help you stay on top of deadlines, best practices around remittance schedules and corrections programs, and more.

In May, our team will be headed to New Orleans for the AICPA Employee Benefit Plans Conference. We look forward to sharing our learning and other industry trends as we head into filing season. You can always follow along with us at www.bdo.com/erisa.

Sincerely,

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IN THIS ISSUE...

Employee Benefits Trends To Watch In 2019

Last year brought several changes that had a direct impact on the employee benefits world, including wide-ranging tax reform, new European protections on electronic data, and a host of ERISA-specific regulatory changes.

Forfeiture Accounts: Not Just Another Participant In Your 401(k) Plan

January 1st was the start of a new plan year and for many employee benefit plans and those charged with governance may take the first quarter of 2019 to review plan provisions, benchmark investments or evaluate service providers.

Labor Department Proposes Auto-Transfer Plan For Small 401(k) Accounts

Each year, nearly 15 million American workers change jobs, with many leaving their 401(k) accounts behind. 

International Assignments: Managing Benefits and Taxes for Expatriate Employees

Given the complexity of the U.S. tax code and the myriad regulations related to ERISA plans, managing benefits for domestic employees is a complicated undertaking.

Helping Participants Understand Tax Diversification Strategies For Retirement

Diversification is an important principle of risk management when it comes to saving for retirement. 

Remittance Schedules: How To Know And Meet Your Deadlines

Part of offering a defined contribution plan, whether a 401(k) or a 403(b) plan, is making sure that the money participants contribute from their paycheck is deposited in their retirement account in a timely manner.

Correcting Late Deposits: Steps to Take When You Miss a Remittance Deadline

We recently wrote about remittance schedules and discussed things plan sponsors can do to help them meet the deadlines for depositing employee contributions in a timely manner.

De-Risking Pension Plans: Evaluating Plan Sponsors Options and Obligations

Identifying and mitigating risk across an organization is a core tenet of sound corporate financial management. 

2019 DEADLINES AND IMPORTANT DATES FOR PLAN SPONSORS

April 2019

April 1: Hire auditor (if needed) by April 1
April 1: Employers choosing to file electronic Form 1094-C must do so by April 1, to prove compliance with the Employer Shared Responsibility mandate of the Affordable Care Act (ACA)
April 15: Corporations and sole proprietors that are not getting an extension must fund contributions by April 15 and receive tax deduction for the prior year
April 15: Participants who contributed over 402(g) or 415 limits in the previous year must be refunded the excess amount by April 15
April 25: File PBGC Form 200 by April 25, if plan sponsor of a single-employer defined benefit plan does not make the
April 15 required contribution, causing the plan to have more than $1 million in unpaid contributions

May 2019

May 15: Defined contribution plans must send fee and benefit information to participants by May 15
May 15: File PBGC Form 10 by May 15, Post-Event Notice of Reportable Events for single-employer defined benefit plans

View All Deadlines and Important Dates