Employee Benefit Plan Newsletter – Winter 2016

The HoganTaylor LLP Employee Benefit Plan (EBP) practice is excited to present the Winter 2016 eNewsletter. Our newsletter is designed to help you keep up with the latest EBP issues.

We’ve designed the newsletter to be read in quick chunks–knowing that leisurely reading time is a luxury for most of you. We’ll also always have the content on our site so that you can refer to it later.

As always, please do not hesitate to contact a member of the HoganTaylor EBP practice with any questions you may have regarding these subjects. Additionally, we welcome any thoughts or ideas you may have for future newsletter topics.

In This Issue:

FASB’S ASU 2015-12 simplifies financial reporting for EBPs

Plan sponsors (and plan advisors) often struggle with the appropriate application of new accounting pronouncements due to limited and/or complex technical guidance on implementation. The Financial Accounting Standards Board (FASB) has provided relief for financial reporting for employee benefit plans (EBPs) with the issuance of Accounting Standards Update (ASU) 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient (ASU). Read More

Changes to the 2015 ERISA annual reports (Form 5500)

Plan sponsors should note changes anticipated for the 2015 Annual Return/Report of Employee Benefit Plan (Form 5500) and Short Form Annual Return/Report of Small Employee Benefit Plan (Form 5500-SF), based on initial drafts of the 2015 Form 5500 series released in December 2015 by the U.S. Department of Labor (DOL), Internal Revenue Service (IRS) and Pension Benefit Guarantee Corp (PBGC). Read More

Now is the time for a regulatory compliance check for 403(b) plans

Tax-exempt organizations that sponsor 403(b) plans are being advised to check their plans for possible compliance issues since the IRS recently announced that these plans are on its priorities list for 2016. In this article you will find questions that 403(b) plan sponsors may want to ask their plan management as part of ensuring the plan is compliant before a possible IRS review. Read More