Compliance

DoL Makes 2006 M-1 Form Available

The US Department of Labor’s Employee Benefits Security Administration (EBSA) will make available Thursday the 2006 Form M-1 annual report for multiple employer welfare arrangements (MEWAs).

GAO Urges Congress to Consider 401(k) Plan Fee Disclosure

A report from the Government Accountability Office (GAO) urges Congress to amend the Employee Retirement Income Security Act (ERISA) to require more comprehensive disclosure to participants on 401(k) plan fees and business arrangements among service providers.

DoL Provides Multiemployer Plan Election Model Notice

The Department of Labor (DoL) has announced that a model notice, which may be used by employee benefit plans electing to be treated as a multiemployer plan under the Employee Retirement Income Security Act (ERISA), will be published in the Federal Register for December 1, 2006.

IRS Issues Guidance on Employer Stock Account Diversification

The Treasury Department and IRS have issued Notice 2006-107 providing transition guidance on the provision of the Pension Protection Act of 2006 (PPA) relating to diversification rights of plan participants and beneficiaries who have accounts held in publicly traded employer securities.