episode 89: how the department of labor’s new regulations impact everyone – Rea CPA

episode 89: how the department of labor’s new regulations impact everyone

Kim Veal | DOL Regulations | Ohio Business Podcast
Kim Veal joins Dave on this episode of unsuitable on Rea Radio to discuss current and pending Department of Labor (DOL) regulations that will impact employers moving forward. Listen now!

There are big changes coming from the Department of Labor, and the logistics behind these particular changes can be difficult to fully comprehend.

Kim Veal, a supervisor on Rea’s benefit plan audit team, joins unsuitable on Rea Radio to explain what the “Big Three” up and coming DOL regulations are and how these new regulations will change the way the DOL looks at fiduciaries, participants, and plan audits.

The Department of Labor, Pension Plans & You

The DOL’s new regulations will affect employers, employees, anyone who wants to start a 401k pension plan, and fiduciaries of a plan. The “Big Three” changes include a new fiduciary rule, a change in the definition of “participant” in Form 5500, and a new exposure draft regarding auditing standards.

Everybody from employers who sponsor plans to employees who participate in them needs to understand…

  • How the “Big Three” DOL changes will affect individuals and businesses
  • How these changes will impact plan sponsors, administrators, etc.
  • What these changes mean for audits and auditors.

If you have any additional questions for Kim, you can get in touch with her and the rest of the benefit plan audit team by sending an email to podcast@reacpa.com.  Don’t forget to tell us what you think of this episode!

more resources

The Future Of America’s Healthcare Remains Uncertain – Today is a big day on the healthcare front. Congress is set to vote on the American Health Care Act. Read on to find out what this means to your business.

‘Noteworthy Changes’ Shake Up Filing Requirements Among Plan Sponsors – Have you taken advantage of your chance to review advance copies of the 2016 Form 5500 to find out how the DOL’s proposed changes will impact your business? Read on to learn more.

Gone But Not Forgotten – There appears to be agreement among those in the human resources sector that while many employers were breathing a little easier after learning of the injunction, they are far from being completely off the hook. Keep reading for more insight.

Department of Labor Finalizes Fiduciary Rule – The DOL released its final regulation to define who is expected to assume fiduciary responsibility of a retirement plan as determined by the Employee Retirement Income Security Act of 1974. Read on for tips to help you prepare.

Employment Laws Under The Microscope – Ohio’s Senate and Congressional leaders are in the process of considering legislation that would alter the state’s employment and labor law landscape. Read on to learn more.

‘More, More, More’ Is Not Always Better – The AICPA has proposed new auditing standards in the hopes of solving the wide-spread shortcomings associated with employee benefit plan audits. Read on to find out what’s on the table.

official transcript

Click here to read the official transcript for episode 89, “how the department of labor’s new regulations impact everyone.”