Employee Benefit Plans and Business Sense

Episode Summary:

In this episode of Employee Benefit Plans and Business Sense, hosts Doll Lank and Kathleen Salas-Bass from KLB Benefits Law Group join Lisa Mosbey to delve into the intricacies of group retirement arrangements. They explore the differences between Multiple Employer Plans (MEPs), Pooled Employer Plans (PEPs), and Defined Contribution Groups (DCGs), highlighting their benefits and drawbacks. Doll and Kathleen discuss...

Episode Summary: In this episode of Employee Benefit Plans and Business Sense, hosts Doll Lank and Kathleen Salas Bass from KLB Benefits Law Group delve into the intricacies of Qualified Domestic Relations Orders (QDROs) and their impact on retirement plans. Joined by host Lisa Mosbey, they explain the legal framework surrounding QDROs, including when they are required and how they interact with the Employee Retirement Income Secur...

Episode Summary:  In this episode, Kathleen Salas Bass and Doll Lank from KLB Benefits Law Group discuss the process and reasons behind retirement plan terminations. They explain the steps involved, common business situations leading to terminations, and mistakes to avoid, offering valuable insights for employers navigating plan terminations.

Key Timestamps: 00:00 – Introduction 02:01 – Reasons for Plan Termination...

Episode Summary:  Exploring the critical importance of cybersecurity in safeguarding Employee Benefit Plans, the episode delves into the vulnerabilities, regulatory enforcement, best practices, and resources available to ensure robust protection of plan data and assets.

Key Timestamps: - 00:00 – Introduction - 1:07 – Significance of Cybersecurity in Employee Benefit Plans - 3:28 – Vulnerability of Retirement ...

Episode Summary: In this episode, Doll Lank and Kathleen Bass from KLB Benefits Law Group delve into the importance of plan committees within employers' benefit plans. They explain the function of plan committees, the benefits of having diverse perspectives on the committee, and why it is a best practice for employers, regardless of company size, to establish a plan committee.

Key Timestamps: 00:00 – Introduction 01:30 &ndash...

Episode Summary:

In this episode, Kathleen and Doll from KLB Benefits Law Group provide a comprehensive overview of ERISA (Employee Retirement Income Security Act) and its significance for employee benefit plans. They discuss the purpose of ERISA, employer obligations, real-world examples of ERISA requirements, consequences of non-compliance, and the delegation of ERISA responsibilities.

Key Timestamps:

00:00 – Introduction t...

Episode Summary:

In this episode of *Employee Benefit Plans and Business Sense*, Doll Lank and Kathleen Bass delve into the complexities of state mandated IRAs and their implications for employers. They explain the concept of state mandated IRAs, the reasons behind their implementation, and the impact on employers who are subject to these programs. The discussion also highlights the penalties for non-compliance and the potential be...

Episode Summary:

In this episode of *Employee Benefit Plans and Business Sense*, Kathleen Bass from KLB Benefits Law Group sheds light on how layoffs can trigger partial terminations in retirement plans. She explains the significance of identifying and addressing partial terminations to ensure compliance and avoid consequences like full-vesting requirements for affected employees.

Key Timestamps:

00:00 – Introduction

01:30 &n...

Episode Summary:

In this episode, Kathleen Bass from KLB Benefits Law Group discusses cafeteria plans and the compliance rules surrounding them. A cafeteria plan allows employers to offer a selection of benefits to employees on a pre-tax basis. Kathleen explains the benefits that can be offered under cafeteria plans, including pre-tax premium payments, flexible spending accounts, health savings accounts, and more. She delves into t...

Episode Summary:

In this episode of *Employee Benefit Plans and Business Sense*Doll lank and Kathleen Bass delve into the intricacies of Rob's Plans, a unique type of retirement plan that allows business owners to use their retirement savings to finance their businesses. They explain the mechanics of setting up a Rob's Plan, its tax benefits, potential pitfalls, and considerations for business owners looking to adopt this structure...

Episode Summary:

In this streamlined episode, Doll Lank and Kathleen Bass define plan mergers as asset transfers to simplify administration and cut costs. The discussion explores voluntary vs. required scenarios in M&A, protected benefits pitfalls, timelines of 3-4+ months, and the critical role of ERISA counsel in comparisons, documentation, and compliance.

Key Timestamps:

00:01 - Show Introduction

00:53 - Defining Plan Merger

Episode Summary:

In this focused episode, Doll Lank and Kathleen Bass unpack related employer groups under ERISA and the ACA, explaining ownership thresholds, service relationships, and triggers like acquisitions or reorganizations. The discussion covers compliance impacts on plan testing, ALE status, grace periods, and proactive steps to avoid costly redesigns.

Key Timestamps:

00:01 - Show Introduction

00:53 - Defining Related Emp...

In this episode, Doll Lank and Kathleen Salas Bass of KLB Benefits Law Group explain what happens when the IRS audits a retirement plan. They cover what can trigger an audit, how the audit process works, and how engaging ERISA counsel can help employers navigate the process smoothly. The attorneys provide practical advice on document preparation, working with vendors, self-corrections, and avoiding common pitfalls ...

In this episode, Doll Lank and Kathleen Bass of KLB Benefits Law Group walk employers through the critical year-end tasks for employee benefit plans. From retirement plan amendments and Form 5500 filings to health and welfare plan elections, they explain what must be completed before December 31, common oversights, and strategies to stay compliant. They also cover recent regulatory updates, including Secure 2.0 cha...

Episode Summary In this episode of Employee Benefit Plans & Business Sense, attorneys Doll Lank and Kathleen of KLB Benefits Law Group discuss the crucial role employee benefits attorneys play in protecting organizations and employees. They explain why proactive legal guidance saves costs, reduces risks, and ensures compliance with complex and ever-changing benefit regulations. From handling audits and legislative changes to me...

In this episode of Employee Benefit Plans & Business Sense, attorneys Doll Lank and Kathleen Bass of KLB Benefits Law Group discuss the critical differences between employment lawyers and employee benefits attorneys. They explain why employment attorneys often need to partner with benefits counsel to protect clients, especially when issues such as ERISA claims, COBRA, retirement plan terminations, and layoffs a...

Episode Summary In this episode of Employee Benefit Plans & Business Sense, attorneys Doll Lank and Kathleen Bass explain why corporate attorneys must understand employee benefit law when advising their clients. They break down the fundamentals of benefit plans, highlight common issues uncovered during mergers and acquisitions, and share practical steps attorneys can take to avoid costly compliance mistakes.

From retirement pla...

In this episode of Employee Benefit Plans and Business Sense, attorneys Doll Lank and Kathleen Bass of KLB Benefits Law Group share how involving an employee benefits attorney early in the correction process can save employers significant costs and reduce compliance risks. With decades of combined experience, they explain common mistakes that lead to plan corrections, why plan documents are critical, and how legal a...