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 firstname.lastname@example.org. Don’t forget to tell us what you think of this episode!
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Click here to read the official transcript for episode 89, “how the department of labor’s new regulations impact everyone.”