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Benefits Deadlines Due by May 1
- Provide notice of benefit restrictions under IRC Section 436 to participants if AFTAP[i] for a defined benefit pension plan (certified by actuary as of April 1) is less than 80% and notice has not previously been provided
Due by May 15
- Confirm 401(k)/403(b) plan recordkeepers have provided first quarter benefit statements to participants, including fee disclosure information
- File Form 990 returns for tax-exempt trusts or voluntary employee beneficiary associations (VEBAs) (or file Form 8868 to automatically extend due date to August 15)
Due by May 31
- Deadline for California employers to file electronically in order to satisfy requirements of the California state individual mandate
Special Benefits Projects
- Hold quarterly meeting of Benefits Committee to review investment performance, fees, plan administration data, and plan operational issues for quarter ending March 31
[i] AFTAP: Adjusted funding target attainment percentage
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Securities offered through Lion Street Financial, LLC (LSF) and Valmark Securities, Inc. (VSI), each a member of FINRA and SIPC. Investment advisory services offered through Lion Street Advisors, LLC (LSA) and Valmark Advisers, Inc. (VAI), each an SEC registered investment advisor. Please refer to your investment advisory agreement and the Form ADV disclosures provided to you for more information. VAI/VSI and LSF/LSA are non-affiliated entities and separate entities from OneDigital and Fulcrum Partners.
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