transcript   Transcript

Proposed Form 5500 Overhaul in the Trump Administration: An Insight into the Minds of the Regulators

Recorded on: Feb. 4, 2017
Running Time: 01:08:07

Full Transcript:

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Taken from the briefing Proposed Form 5500 Overhaul in the Trump Administration:  An Insight into the Minds of the Regulators recorded February, 2017 in New York.

As government resources shrink, the agencies responsible for employee benefit plan compliance and enforcement are becoming increasingly dependent on plan sponsor self-disclosure and reporting through the Form 5500 Annual Information Return/Report for Employee Benefit Plans.

The Department of Labor, Internal Revenue Service, and Pension Benefit Guaranty Corporation have proposed an unprecedented overhaul of the Form 5500 series that would materially increase administrative burdens and disclosure risks for sponsors of both retirement and group health plans. Among other things, the proposed changes would include detailed operational compliance questions and require information about service provider relationships and plan financial management. Group health plans would be subject to an unprecedented level of reporting for those plans.

Although the change in Administration leaves the fate of the Form 5500 overhaul uncertain, the proposal makes clear the issues that the regulators will focus on, whether through Form 5500 reporting and disclosure or other means.

Lecture Topics  [01:08:07]

Elizabeth F. Drake, Garrett A. Fenton, and Erin M. Sweeney of Miller & Chevalier will:

  • Provide an overview of the proposed Form 5500 changes;
  • Discuss the related compliance concerns of the regulators; and
  • Address what plan sponsors need to think about now.

Presentation Material

  • Proposed Form 5500 Overhaul in the Trump Administration: An Insight into the Mind of the Regulators
    Elizabeth F. Drake, Garrett A. Fenton, Erin M. Sweeney
Elizabeth Drake ~ Miller & Chevalier
Garrett A Fenton ~ Miller & Chevalier
Erin M Sweeney ~ Miller & Chevalier
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