Thu.Apr 15, 2021

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The Big Shift: Positioning your firm to help clients evolve

ThomsonReuters

Business needs are changing, requiring companies to seek new strategic capabilities. Tax and accounting firms are uniquely positioned to be strategic advisors and service providers for their clients—but CPA firms must evolve, too. Modern businesses face unique challenges when trying to grow and stay competitive in a rapidly changing business environment.

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Are Plan Administrators Required to Obtain Electronic Credentials Under the DOL’s EFAST-2 Form 5500 Filing System?

ThomsonReuters

QUESTION: We will be using a third-party preparer and approved third-party software to submit our Form 5500 under the DOL’s EFAST-2 electronic filing system. As the plan administrator, do we need to obtain electronic credentials? ANSWER: Plan administrators must obtain electronic credentials for Form 5500 filing unless they decide to use the e-signature option (described below).

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Fiduciaries Did Not Breach Duties by Hiring TPA That Allowed Identity Thief to Withdraw 401(k) Funds

ThomsonReuters

Bartnett v. Abbott Labs., 2021 WL 428820 (N.D. Ill. 2021). A federal trial court has dismissed certain of a 401(k) plan participant’s claims stemming from an identity thief’s unauthorized withdrawal of $245,000 from her plan account. The thief had accessed the participant’s account through a website maintained by the plan’s TPA and added deposit information for a new bank account.

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DOL Releases 2021 Annual Self-Insured Health Plans Report to Congress, Analyzing 2018 Data

ThomsonReuters

Report to Congress: Annual Report on Self-Insured Group Health Plans (Mar. 2021); Appendix A, Group Health Plans Report: Abstract of 2018 Form 5500 Annual Reports Reflecting Statistical Year Filings (Jan. 2021, v. 1.0); Appendix B, Self-Insured Health Benefit Plans 2021: Based on Filings Through 2018 (Dec. 22, 2020). Report. Appendix A. Appendix B. The DOL has made available its required annual report to Congress on self-insured health plans.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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Court Allows Claims Against Religious Employer for Denial of Same-Sex Spousal Health Benefits

ThomsonReuters

Doe v. Catholic Relief Servs., 2021 WL 1164227 (D. Md. 2021). Available at [link]. Doe%20v%20CRS%2026%20Mar%2021.pdf. An employee sued his employer under Title VII and other federal and state laws after the employer dropped health plan coverage for the employee’s same-sex spouse. The employer—an organization affiliated with the Catholic Church—had assured the employee during the recruitment process that “all dependents” were covered under the plan, and the spouse was initially covered without c

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