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Do you know your up coming compliance dates?

    July 10, 2024

    PCORI & 5500 filings

     

    Being a plan sponsor involves juggling many tasks including, importantly, making sure your plan complies with all pertinent federal legislation and regulations. A compliance calendar keeps track of required filings, their due dates and related details so plan sponsors can avoid incurring any fines or other penalties for late filings or missing information.

     

    The IRS has released Notice 2023-70Opens a new window, announcing a rise in the Patient-Centered Outcomes Research Institute (PCORI) fee for plan years concluding between October 1, 2023, and October 1, 2024. The revised PCORI fee stands at $3.22 per covered life under the plan.

     

    What follows is intended to alert sponsors of retirement plans governed by the Employee Retirement Income Security Act to some of the significant regulatory dates for 2024. It does not identify all compliance obligations or due dates, and the calendar assumes that a plan is being administered on a calendar year basis by an employer using a calendar fiscal year.

     

     

    2024 ERISA Plan Compliance Calendar | PLANSPONSOR

    PCORI Fee Amount Adjusted for 2024 (thehortongroup.com)

     

     

    Commentary by: Raylea Stelmach

    Edited by:

     

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