HR Minute

Showing 4 posts from April 2016.

DOL Fiduciary Regulations

The U.S. Department of Labor (DOL) earlier this month released final regulations which significantly expand the more than 40-year-old definition of who is a plan fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) by virtue of providing investment advice for a fee. Thus the final regulations close the door on the spirited, six year debate between the DOL and the investment community over the challenges that the members of the investment community will face if the definition is expanded. However, there was during this period virtually no discussion about the challenges a plan sponsor would face if the definition is expanded.

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April 30 Deadline for Pre-approved Defined Contribution Plans

This is a follow-up on the IRS’ recent reminder to plan sponsors using pre-approved defined contribution plans (i.e., prototype and volume submitter plans) that they must adopt restated plan documents by the end of this month. Plan sponsors should have already received restated plan documents from their service provider to review and execute by April 30, 2016. However, if a plan sponsor uses these kinds of plans and has not received these documents, it needs to contact its service provider immediately.

Please call Donald S. Kohla at 678.336.7140 or Jan G. Marsh at 678.336.7135 if you need assistance in working with your service provider to review and restate your pre-approved plan by this deadline.

Work-Related Stress and the Americans with Disabilities Act

With increasing frequency employees are claiming disabilities based on work-related stress. Some employees are asking for accommodations such as transfers to new supervisors, working from home, additional leave, and alternative jobs. These requests may require an employer to make a determination of whether the employee has a disability and potential accommodations for the alleged disability.

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EEOC Investigations - New Requirements for Position Statements

The Equal Employment Opportunity Commission (EEOC) has implemented new procedures which include electronic filing and which allow the EEOC to release an employer’s position statement to a charging party. The EEOC may release any information or documents which are not determined to be confidential.

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