人力资源& Payroll Blog

人力资源需要了解其在ERISA合规性中的作用

2018年8月7日上午10:00:00 /约翰·杜瓦尔(John Duval)

erisa-compliance

A lot of trends between generations in the workforce have emerged in the past few years: Baby Boomers are返回劳动力以获得再演职业while millennials continue to place emphasis on theircommitment to values above salaryZ世代将有更高的薪水期望than millennials and Gen X due to the difference in economies they grew up in. Despite all the differences in every generation, there’s one thing they all have in common: they will (one day) retire... and they’ll need some money put away when they do.

来自西北互助的研究透露,五分之一的美国人根本没有退休储蓄,而有46%(近一半)没有采取任何措施来准备他们可以超越储蓄的可能性。在婴儿潮一代中,三分之一的退休储蓄介于0-25,000美元之间。

这是一个大问题。

The U.S. Department of Labor (DOL) enacted the1974年《就业退休收入安全法》(ERISA)to protect the assets of Americans who have placed funds in retirement plans during their working lives. As a federal law, ERISA sets minimum standards for retirement plans in private industry. It’s intended to not only help protect retirement funds but also make them easily accessible to workers once they do retire.

Why does this matter for HR? Not only doesthe DOL continue to increase penaltiesfor noncompliance, but you may have also noticed more ERISA cases popping up in the news lately as the courts crack down on noncompliance. As an HR professional, you know the importance of compliance with federal regulations and the consequences for noncompliance. With complex laws like ERISA, oftentimes the noncompliance isn't intentional, but happens due to a lack of education and understanding. Youto provide the right benefits and retirement plans for your employees. In order to do so, you need to understand the laws around those plans too.

首先,让我们从将ERISA理解为法律开始,然后我们将讨论人力资源在合规中的作用。

什么是Erisa?

As noted earlier, ERISA exists to protect the assets of U.S. workers who place funds in retirements plans and to help them access those assets during retirement. In addition to retirement plans, ERISA also governs welfare benefit plans. Medical benefits, prepaid legal services, 401(k) plans, vacation benefits, and many other types of fringe benefit plans where the employer contributes to the cost of the plan are all subject to ERISA. Regardless of size, nearly all types of businesses— except churches and government entities— are subject to ERISA laws and compliance.

ERISA参与设定了最低标准、vesting, benefits accrual, and funding. Under the law, a person may need to meet certain requirements for plan participation and rights to benefits. ERISA establishes funding rules so plan sponsors provide adequate funding for plans, and gives participants the right to sue for benefits and “breaches of fiduciary duty.” Through the Pension Benefit Guaranty Corporation (PBGC), ERISA guarantees payment of certain benefits if a defined plan is terminated.

Plan sponsors (employers) must provide participants (employees) with information about the plan along with any important information about the plan’s features and funding. Plan information should be furnished to employees regularly. Should the DOL request any plan documentation, the plan sponsor must be able to provide that information.

那就是人力资源的进来。

HR和ERISA合规:表格5500,SDP和SAR

While a lot goes into ERISA compliance, there are three key things HR should be sure to have on their compliance checklist: Form 5500, SDP, and SAR.

It’s common for employers to think it’s up to the insurance company or 401(k) provider to handle these documents, but it’s ultimately up to the employer to manage compliance with ERISA. If you’re using a third party to handle any of your benefits plans, they may provide some documentation, but it’s up to the employer to ensure everything is filed and furnished appropriately according to ERISA.

Form 5500

为了收集有关员工福利计划的信息并评估这些计划的条件和运营,IRS,DOL和PBGC开发了Form 5500 series。任何计划的赞助商ERISA(福利福利或退休计划)必须填写并在线提交表格5500EFAST2每年报告他们的计划并保持ERISA合规性。

Form 5500 must be filed on the last day of the seventh month following the close of the plan year. The reporting deadline for calendar year plans is July 31. If the deadline falls on a weekend or federal holiday, the form is due the following business day. If you need a little more time, you can request an extension with表格5558prior to the initial deadline for your plan.

不遵守ERISA报告并不便宜。IRS和DOL都可能因未能维持ERISA合规性而罚款或处罚。您可以为每位员工提供最高28美元的费用,以免向员工及其受益人提供福利声明,或者未能保留您的计划记录。未能或拒绝提交表格5500的表格可能每天要花费您每天$ 2,097的费用。

处罚并不止步于此。根据您的业务类型和计划,美国国税局和DOL可以对不遵守规定施加更多的罚款(每天,每天或两者兼而有之)。如果您未能提交5500表格,则可能需要一年或更长时间才能收到IRS的来信,这意味着您的罚款确实可以加起来。如果您在收到一封信之前将您的迟到返回给IRS,则可以使用Delinquent Filer Voluntary Compliance Programto pay lower penalties.

社会民主党

ERISA requires employers to provide a Summary Plan Description (SPD) to each employee participating in the plan. The SPD should clearly list the benefits offered by the plan, rules for obtaining the benefits in the plan, and any guidelines for using those benefits, along with claims and repeals procedures. The SPD must also include a statement of ERISA rights.

A common misconception many employers and HR professionals believe is that the Evidence of Coverage or the Certificate of Insurance provided by the insurance company acts as the SPD for plan participants. These documents do not typically meet all the requirements of the SPD, so it’s best to provide a written SPD to all plan participants in addition to any evidence of coverage documents provided by the insurance company or benefits provider.

电磁脉冲loyers must furnish SPDs to plan participants under the following timeline:

  • Within 90 days to a new participant in a plan.
  • Within 120 days if a new plan is established.
  • 每五年制定计划。
  • 如果计划没有改变,则每十年一次。

雇主应该能够证明他们已将SPD提供给员工。DOL建议使用手交付,一流的邮件或电子发行(如果员工可以在工作场所访问计算机)。

SAR

ERISA还要求计划赞助商向计划参与者及其受益人提供摘要年度报告(SAR),以汇总有关向美国国税局提交的5500表上报告的信息。计划发起人应在计划开始截止日期(或计划开始日期之后的九个月)之后的两个月内分发SAR。如果您在日历计划中申请了扩展名,则必须在12月15日之前提供SAR来计划参与者。虽然SAR是表格5500的摘要版本,但参与者有权请求该表格的完整副本。

The SAR must include the following information:

  • 计划的价值
  • Any administrative fees paid from plan assets
  • 支付给计划参与者及其受益人的任何分配
  • 通知计划参与者要求索取表格5500副本的权利

管理劳动力的合规性可能需要大量工作。跟上ERISA合规性可能是人力资源面孔最复杂的合规性情况之一,而对不合规的处罚也很高。但是,为您的员工退休和福利福利计划为您的劳动力提供了很多帮助。您正在通过提供医疗和牙科保险等福利来帮助员工的日常生活,并通过帮助他们计划退休来投资他们的未来。但这并不止于此。通过提供这些计划,您可以在招聘市场中保持竞争力,因此您可以吸引顶级人才加入员工队伍。为您的员工提供正确的计划,并遵守这些计划的依从性可以帮助您公司的底线。

So Many Laws. So Little Time.

获取人力资源法律备忘单。

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