Understanding Employee Benefit Plan Investments: A Guide for New Trustees

Larry Beebe, CPA

New trustees can be overwhelmed by the knowledge that must be quickly acquired to function effectively in their new roles.  Investments is one area that trustees must know well, but the average new trustee may not have the detailed background and knowledge necessary to manage the investments in an employee benefit plan.

In the months to come, we will be posting an in-depth series on investments to assist new trustees in their fiduciary duty of managing plan assets.  […]

Benefit Plan Policies: Social Media

Larry Beebe, CPA

In this series, we are reviewing the written plan policies needed to help your benefit plan stay compliant and operate most effectively. For a full list of the necessary policies and why your plan should implement them, click here.

In the past few years, organizations have been developing social media policies to preserve the rights of employees (and trustees for employee benefit plans) to engage in social networking sites, blogs, bulletin boards and chat rooms, emails and other […]

Full Disclosure: Challenges in Implementing 408(b)(2) Regulation for 401(k) Plans

Scott Price, CPA

As 401(k) plans have begun to implement the Department of Labor (DOL)’s new 408(b)(2) fee disclosure regulation, plans have discovered several challenges and nuances.  I had the opportunity to speak with the Washington Business Journal on this topic a couple of weeks ago.  As I state in the article, one of the biggest challenges will be for 401(k) plans to concisely and clearly provide service fee information to plan participants.  401(k) plan administrators should attempt to format […]

Health Care Reform Update: W-2 Reporting Requirement Waived for 2012

Brian Garstecki, CPA

As multiemployer plans turn their focus to complying with Affordable Care Act regulations, we will be providing periodic updates and guidance to help clarify these new provisions and provide guidance for how to focus your compliance efforts.  This blog is the first in these series of updates.

One of the hallmarks of the Affordable Care Act is the requirement for employers to report the cost of coverage under an employer-sponsored group health plan on employees’ W-2 Forms. Employers […]

Benefit Plan Trends, Updates: Lessons Learned from IFEBP’s Annual Conference

Larry Beebe, CPA

Last week I attended the International Foundation of Employee Benefit Plans (IFEBP) Annual Conference in San Diego, CA.  Each year, the IFEBP Annual Conference provides education to trustees, administrators, and plan professionals who work closely with employee benefit plans.

As with every year, each class I attended was an excellent learning experience.  Of the many insights I gleaned, the top three take-aways from this year’s conference were:

1. Cost Analysis of Providing Retirement Benefits. Diane Oakley of the National […]

Bond Beebe Principals Speak at IFEBP 58th Annual Conference

Mark Buckberg, CPA, CFE, CFF

Once again, Bond Beebe Principals David Dorsey, Scott Price, and Lawrence Beebe had the opportunity to teach several sessions at the International Foundation of Employee Benefit Plans Annual Conference, which took place November 11 – 14, 2012 in San Diego, California.

The Principals spoke on a wide range of topics, covering Trustee roles and education, new accounting and auditing standards, financial statements, and the implementation of the Affordable Care Act.

For more information and a full listing […]

401(k) Participant Fee Disclosure Requirements: Only 10 More Days to Comply

Fabricia Edwards, CPA

Update: These regulations came into effect on August 30, 2012.  If you have compliance questions or concerns, please do not hesitate to contact me via the information above.

New ERISA regulation, under section 404(a)(5) (otherwise known as the participant fee disclosure), requires that plan participants are provided with an increased level of investment information, including plan expenses and fees.  Under this regulation, plans must provide information in a format that will enable participants to compare the available investment […]