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Employee Benefits Year-End “To-Dos”
Episode Summary:
In this episode, Doll Lank and Kathleen Bass of KLB Benefits Law Group walk employers through the critical year-end tasks for employee benefit plans. From retirement plan amendments and Form 5500 filings to health and welfare plan elections, they explain what must be completed before December 31, common oversights, and strategies to stay compliant. They also cover recent regulatory updates, including Secure 2.0 changes, catch-up contributions, and updates to dependent care and student loan benefits.
Key Timestamps:
00:00 – Why year-end is critical for benefit plans
01:30 – Calendar vs. fiscal year considerations
03:00 – Form 5500, Summary Annual Reports, and committee preparations
05:00 – Cafeteria plans, auto-enrollment, and discretionary amendments
08:30 – When to start preparing for year-end tasks
10:00 – Who handles benefit plan administration internally
12:30 – Mistakes employers make and how to avoid them
15:00 – IRS and Department of Labor programs, best practices for health and welfare plans
18:00 – Secure 2.0 catch-up contributions, paper statement requirements, student loan reimbursement, and dependent care FSA increase
20:30 – Staying organized and ensuring compliance for a smooth year-end
About the Show:
Employee Benefit Plans and Business Sense helps employers navigate the complex legal landscape of employee benefits. Each episode features experts like Doll Lank and Kathleen Salas Bass, providing practical guidance on compliance, filings, amendments, and best practices for managing benefit plans efficiently and effectively.
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By employeebenefitplansEpisode Summary:
In this episode, Doll Lank and Kathleen Bass of KLB Benefits Law Group walk employers through the critical year-end tasks for employee benefit plans. From retirement plan amendments and Form 5500 filings to health and welfare plan elections, they explain what must be completed before December 31, common oversights, and strategies to stay compliant. They also cover recent regulatory updates, including Secure 2.0 changes, catch-up contributions, and updates to dependent care and student loan benefits.
Key Timestamps:
00:00 – Why year-end is critical for benefit plans
01:30 – Calendar vs. fiscal year considerations
03:00 – Form 5500, Summary Annual Reports, and committee preparations
05:00 – Cafeteria plans, auto-enrollment, and discretionary amendments
08:30 – When to start preparing for year-end tasks
10:00 – Who handles benefit plan administration internally
12:30 – Mistakes employers make and how to avoid them
15:00 – IRS and Department of Labor programs, best practices for health and welfare plans
18:00 – Secure 2.0 catch-up contributions, paper statement requirements, student loan reimbursement, and dependent care FSA increase
20:30 – Staying organized and ensuring compliance for a smooth year-end
About the Show:
Employee Benefit Plans and Business Sense helps employers navigate the complex legal landscape of employee benefits. Each episode features experts like Doll Lank and Kathleen Salas Bass, providing practical guidance on compliance, filings, amendments, and best practices for managing benefit plans efficiently and effectively.