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DOL Guidance for Benefit Plans Impacted by Hurricane Harvey | Ohio Benefit Advisors

The U.S. Department of Labor has issued compliance guidance for benefit plans, employers and employees, and service providers who are impacted by Hurricane Harvey. The guidance generally provides relief from various ERISA requirements and time limits for entities in the disaster area. This follows the Internal Revenue Service (IRS) announcement extending certain filing dates, including … Continued

The DOL’s Final Overtime Rule Saga Continues | Ohio Benefit Advisors

The change in the regulations that would increase the salary threshold for overtime exemption that was all over the news for the last several months may now be decided by the end of June. The Fifth Circuit Court of Appeals has granted the U.S. Department of Labor (DOL) another 60-day extension of time to file … Continued

Department of Labor Delays Enforcement of the Fiduciary Duty Rule | Ohio Benefit Advisors

On April 4, 2017, the Department of Labor (DOL) announced that the applicability date for the final fiduciary rule will be extended, and published its final rule extending the applicability date in the Federal Register on April 7. This extension is pursuant to President Trump’s February 3, 2017 presidential memorandum directing the DOL to further … Continued

Congress Abandons Effort to Repeal the ACA | Ohio Benefit Consultants

On Friday, Republicans in the U.S. House of Representatives pulled pending legislation, known as the American Health Care Act, from further consideration. The bill had been scheduled for a vote on the House floor Friday afternoon but, recognizing that it was headed for defeat, the House leadership cancelled the vote. It is now unlikely that … Continued

Top Five Compliance Assessment Surprises | Ohio Benefit Consultants

Our Firm is making a big push to provide compliance assessments for our clients and using them as a marketing tool with prospects. Since the U.S. Department of Labor (DOL) began its Health Benefits Security Project in October 2012, there has been increased scrutiny. While none of our clients have been audited yet, we expect … Continued

Ouch! Department of Labor Form 5500’s Time-Intensive and Expensive Reporting Requirements Painful for Small Employers | Ohio Benefit Advisors

Proposed regulations for revising and greatly expanding the Department of Labor (DOL) Form 5500 reporting are set to take effect in 2019. Currently, the non-retirement plan reporting is limited to those employers that have more than 100 employees enrolled on their benefit plans, or those in a self-funded trust. The filings must be completed on … Continued

FAQs on Tobacco Cessation Coverage and Mental Health / Substance Use Disorder Parity | Ohio Employee Benefits

Recently, the Department of the Treasury, Department of Labor (DOL), and Department of Health and Human Services (HHS) (collectively, the Departments) issued FAQs About Affordable Care Act Implementation Part 34 and Mental Health and Substance Use Disorder Parity Implementation. The Departments’ FAQs cover two primary topics: tobacco cessation coverage and mental health / substance use … Continued

Salary Considerations under the New DOL Standards | Ohio Employee Benefits

On December 1, 2016, the Department of Labor (DOL) will implement changes raising the minimum compensation for exempt employees to $47,476 annually. While salary is just half of a two-part equation that includes a duties test of essential job functions, scrutiny is under way to analyze compensation and find solutions to avoid conflict with the … Continued

What is Essential? The Madness of Maintaining Job Descriptions Under the DOL | Ohio Employee Benefits

Your new position just got approved and, finally, that mission-critical headcount addition is green-lighted. Celebration ensues until the actual work of finding the ideal candidate begins. The first step is to get a job description. In some cases, a perfectly vetted position analysis and description may exist, one that captures the particulars and purpose of … Continued

Avoid Increased Penalties by Filing Annual Benefit Plan Reports on Time | Ohio Employee Benefits

Form 5500 is the annual report that group benefit plans use to report required information about the plan’s financial condition and operations. Most group and pension plans that are subject to ERISA are required to file a Form 5500. With the July 31 deadline for calendar year plans fast approaching, and higher penalties for not … Continued

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