The Characteristics of Business Owners: 2007 is the only report in the U.S. Census Bureau’s 2007 Survey of Business Owners (SBO) publication series to provide data on selected economic and demographic characteristics of the owners of U.S. respondent firms. Data … Continue reading
In 2009, the share of small businesses offering coverage dropped in 45 states, as premiums nationwide rose 82 percent over 2000 Just 42 percent of U.S. small employers offered medical insurance in 2009, vs. 47 percent in 2000. In 45 … Continue reading
Last week, HHS, Treasury and Labor released revised regulations for group health plans which have not been grandfathered and insurers must now comply for internal claim procedures and external reviews. These revised regulations discuss a variety of issues. They are … Continue reading
Duck hunting season is open for the DOL “You are scaring me,” is a recent quote from a prospective plan administrator, after explaining exactly what her responsibilities are as a plan fiduciary. While it is not our intention to “scare” … Continue reading
In past articles, we mentioned that lobbyists will be out in force looking to repeal or delay a rule within the Dodd-Frank Bill that calls for a uniform fiduciary duty of care for retail investment advice. The lobbyists have succeeded … Continue reading
April 11, 2011 The National Small Business Association (NSBA) today released the 2011 Small Business Taxation Survey. Released one week prior to the April 18 tax deadline, this survey provides detailed insight on how America’s small-business community is being impacted … Continue reading
On July 16, 2010, the Department of Labor issued new ERISA rules mandating that as of July 16, 2011, retirement plan service providers must adhere to new fee disclosure rules. Full fee disclosure will make most service providers look very … Continue reading
WASHINGTON ? Women-owned small businesses can begin taking steps to participate in a new federal contracting program on Friday, Feb. 4, the U.S. Small Business Administration announced today. The new Women-Owned Small Business (WOSB) Federal Contract Program will be fully implemented over the next several months, with the first contracts expected to be awarded by the fourth quarter of fiscal year 2011. Continue reading
Our last blog was titled ?2011 ? The Year of Fiduciary,? little did we know that the Securities and Exchange Commission (SEC) would so quickly make a confirming declaration.
January 22nd, 2011 the SEC staff, under mandate from the Dodd-Frank financial reform law, recommended that the agency should adopt rules implementing a ?uniform fiduciary standard for brokers and advisors that require broker-dealers to act in the best interest of their clients, without regard to the financial or other interest of the broker or advisor.? If you are a plan administrator, this is what you have been waiting for.
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What changes lie ahead?
Starting in 2011: Employers may report the value of health care benefits on employees? W2 tax statements (optional for 2011 tax year/mandatory thereafter). Continue reading
