On January 5, 2018, the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) which oversees Title I of the Employee Retirement Income Security Act (ERISA) issued a proposed rule which would broaden the definition of “employer” and the provisions under which an employer group or association may be treated as an “employer” sponsor of […]
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October Compliance Recap
October 2017 October was a busy month in the employee benefits world. President Trump announced a new Acting Secretary for the U.S. Department of Health and Human Services (HHS). Eric Hargan fills the position vacated by Tom Price, who resigned in late September 2017. The Internal Revenue Service (IRS) issued the instructions for Forms […]
Read moreFinal Summary of Benefits and Coverage Template and Updates
A Summary of Benefits and Coverage (SBC) is two-and-a-half page (double-sided) communication required by the federal government. It must contain specific information, in a specific order, and with a minimum size type, about a group health benefit’s coverage and limitations. On April 6, 2016, the Centers for Medicare and Medicaid Services (CMS), the Department of […]
Read moreCompliance Recap // September 2016
September was not a very active month for administrative rulemaking in the employee benefits world. The Internal Revenue Service (IRS), Department of Labor (DOL), and Pension Benefit Guaranty Corporation (PBGC) extended the public comment period for the proposed Form 5500 annual return/report revision. The IRS issued rules defining terms relating to marital status and setting […]
Read moreCompliance Recap // July 2016
During the month of July numerous new regulations were issued or proposed by federal agencies, and existing forms and processes were updated. In particular, penalties for various ERISA violations were increased, a major overhaul to Form 5500 filings was proposed, and draft 1095-C and 1094-C forms were released. Proposed regulations were also released relating to […]
Read moreClient Spotlight – Asahi Bluegrass Forge
Asahi Bluegrass Forge was founded in the spirit of monozukuri – manufacturing, with its roots in the care, quality and precision of the craftsman. A subsidiary of the Asahi Forge Corporation, Asahi Bluegrass Forge (ABF) is a young, up-and-coming forging company which has been producing high quality, near-net-shape, automotive parts since 2010. Here at Asahi […]
Read moreClient Spotlight – WinStar Farm
WinStar Farm, a globally known Kentucky Thoroughbred operation, started out as the dream of Kenny Troutt and Bill Casner, both of whom have a “rags to riches” story. They formed a partnership that began with a small claiming stable and after Kenny failed with two different business ventures, he asked Bill to partner with him […]
Read moreClient Spotlight – Bennett’s Carpets, Inc.
Bennett’s Carpets, Inc. is one of the largest Kentucky based residential and commercial floor covering companies in the Commonwealth. Since 1968, we have been providing excellence in product and installation. Located in Russell Springs, KY, we are uniquely positioned to service all your needs. Our residential inventory fills two large warehouses and holds some […]
Read moreClient Spotlight – Berea College
https://www.berea.edu/ Berea College offers a high-quality liberal arts education to students who have great promise but limited economic resources. Since its founding in 1855, Berea College was the first interracial and coeducational college in the South, and is among the most racially diverse private liberal arts colleges in the United States. The College promotes […]
Read moreClient Spotlight – Asbury Theological Seminary
Asbury Theological Seminary was founded in 1923 by H.C. Morrison with a class of three students and an audacious seal that said, “The whole Bible for the whole world.” President Timothy C. Tennent currently leads Asbury Seminary in its mission “to prepare theologically educated, sanctified, Spirit-filled men and women to evangelize and to spread […]
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