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The Form 5500 filing deadline is approaching — avoid errors and ERISA penalties

The July 31 Form 5500 filing deadline for calendar-year ERISA plan sponsors is right around the corner. You may think you have all of your ducks in a row, but employers sponsoring health and welfare plans often make common errors which can lead to hefty penalties. It’s worth your time to take a closer look and make sure none of your ducks have gone astray.

Form 5500 basics: Your organization’s retirement plan obligations

The Form 5500 is an annual report, filed with the U.S. Department of Labor (DOL), that contains information about a 401(k) plan's financial conditions, investments, and operations. Employers that sponsor 401(k) plans must file an annual report electronically with the IRS using the Form 5500. Used to gather information about the plan, the form is due seven months after the end of the plan year, and under the Employee Retirement Income Security Act (ERISA), failing to properly submit Form 5500 can be costly. Let’s take a look at the basic requirements.

Student loan repayment: A flexible benefit to solve your current HR initiatives

In today’s competitive talent marketplace, student loan assistance is an emerging benefit that any company can offer to encourage the younger generation to join or stay with their company. How a company can implement this can vary greatly. There are plenty of examples of unique offerings of this benefit, but this article focuses on three common HR initiatives that you might have on your plate for 2019: recruiting, retaining, and engagement.