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IRS releases 401(k) Plan Compliance Check Interim Report
  • Masuda Funai Eifert & Mitchell Ltd
  • USA
  • February 6 2012

On Friday, February 3, 2012, the Tax Exempt and Government Entities Division (“TEGE”) of the Internal Revenue Service (“IRS”) released its 401(k) Plan Compliance Check Interim Report (the “Report”) that summarizes the results of the questionnaires that the IRS sent to 1,200 randomly selected plan sponsors who filed a Form 5500 for the 2006 through 2008 plan years


IRS will conduct 401(k) phone forum
  • Masuda Funai Eifert & Mitchell Ltd
  • USA
  • July 10 2009

On August 6, 2009, Mr. Roger Kuehnle, Tax Law Specialist, and Ms. Lisa Mojiri-Azad, Senior Technical Reviewer, Office of Division CounselAssociate Chief Counsel, TEGE, Employee Benefits, will conduct a phone forum to review recent IRS 401(k) guidance


Misusing plan assets leads to personal liability
  • Masuda Funai Eifert & Mitchell Ltd
  • USA
  • August 10 2009

Recently, the U.S. Department of Labor (“DOL”) announced that it had obtained a consent order and judgment requiring the former president of AA Capital Partners Inc. to restore $50 million in losses to five Michigan pension funds as restitution for misuse of plan assets to the benefit of the investment firm and himself


Hitachi America benefits manager sentenced to 57 months for fraud
  • Masuda Funai Eifert & Mitchell Ltd
  • USA
  • November 2 2009

The U.S. Attorney for the Southern District of New York announced that Dennis M. Dowd, formerly the senior manager of human resources at Hitachi America, Ltd. (Hitachi”) was sentenced to 57 months in prison for defrauding the Hitachi America Group Health and Welfare Plan (the “Plan) of more than $6 million


ERISA: delinquent form 5500 filers must also file with the IRS
  • Masuda Funai Eifert & Mitchell Ltd
  • USA
  • July 8 2014

Plan sponsors who fail to file Form 5500 annual reports are subject to penalties under ERISA and the Internal Revenue Code (the "Code"). The


Reminder: first PCORI fee due July 31, 2013 for calendar year plans
  • Masuda Funai Eifert & Mitchell Ltd
  • USA
  • June 11 2013

The Affordable Care Act ("ACA") imposed a new fee on plan sponsors and issuers of individual and group policies to fund the Patient-Centered Outcomes


Employee handbooks must be updated to comply with Illinois andor California laws
  • Masuda Funai Eifert & Mitchell Ltd
  • USA
  • February 3 2015

New Illinois and California laws require most companies to post new notices and draft new policies for their employee handbooks. The Illinois Human


Workers' compensation and COBRA coverage: the forgotten employer obligation
  • Masuda Funai Eifert & Mitchell Ltd
  • USA
  • February 18 2015

Employers fail to offer COBRA continuation notices to qualified beneficiaries for any number of reasons. However, with regard to workers'


Free fiduciary responsibility webcasts - today & tomorrow
  • Masuda Funai Eifert & Mitchell Ltd
  • USA
  • March 23 2011

On Monday, March 21, 2011, the US Department of Labor's Employee Benefits Security Administration ("EBSA") announced that it will sponsor two "Getting It Right - Know Your Fiduciary Responsibilities" webcasts this week


Breaches of unsecured protected health information
  • Masuda Funai Eifert & Mitchell Ltd
  • USA
  • September 26 2011

Recently, the U.S. Department of Health and Human Services Office for Civil Rights presented to Congress its annual report regarding breaches of unsecured protected health information for calendar years 2009 and 2010