Caron Bletzer News

408(b)(2) Fee Disclosures Extended to July 1, 2012

The Department of Labor has finally released the final 408(b)(2) fee disclosure regulations.  As had been hoped for, the fee disclosure reporting deadline for vendors to plan sponsors, discussed previously in our blog, has been extended from April 12, 2012 to July 1, 2012. The final regulation can be viewed here: Read More »

2012 Retirement Plan Limits Were Recently Announced

Finally, cost of living adjustment (COLA) figures have moved enough to cause retirement plan contribution limits to rise after remaining the same for three years in a row.  On October 20, 2011, the IRS announced the new limits for 2012.  The elective deferral (employee contribution) limit increases from $16,500 to $17,000 for 401(k), 403(b) and most 457 plans, and the “catch-up” contribution limit for participants over age 50 in those plans remains unchanged at $5,500. The...

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Confusion Over Fee Disclosure Compliance

There are two sets of fee disclosure regulations that were issued by the U.S. Department of Labor Employee Benefits Security Administration (EBSA) in 2010.  This fact, and the movement of compliance deadlines for both sets, has contributed mightily to confusion amongst plan sponsors.  There are new requirements for disclosures to plan sponsors from covered service providers, and requirements for disclosures from plan sponsors to plan participants.  The overarching goal of the new disclosures is to...

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2011 Retirement Plan Limits Announced

For the third year in a row, retirement plan contribution limits tied to cost of living adjustment (COLA) figures remain unchanged, the IRS has announced.  This means the maximum employee deferral contribution limit for 401(k) and 403(b) plans stays at $16,500 for 2011, with “catch-up” contributions for employees over age 50 remaining at $5,500.  Other figures, including the annual additions limitations, compensation limits for purposes of determining highly compensated or key employee status, and the...

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Jeff Polchlopek Joins the Partnership

We are pleased to announce that Jeff Polchlopek, who has been with the firm for over 10 years, was promoted to partner at Caron & Bletzer, PLLC. Jeff is an audit partner in the ERISA practice, and runs many of the firm’s more complex employee benefit audits. His practice has a particular emphasis on clients with 11K filing requirements, defined benefit pension plans, multiple employer plans and employee stock option plans. Prior to joining the firm,...

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