Human Resources

Employee Benefits Checklist for August 2022

Employee Benefits Checklist for August 2022

Author Executive Benefits Team
Date July 28, 2022
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The executive benefits team at OneDigital is sharing the following report, prepared by the Employee Benefits group at Isler Dare PC.

As we enter August, we want to help you keep a few deadlines in mind.

Employee Benefits Deadline August 14, 2022

  • Confirm 401(k)/403(b) plan recordkeepers have provided benefit statements to participants for quarter ending June 30, including fee disclosure information and first lifetime income illustrations

Employee Benefits Deadline August 15, 2022

  • File Form 990 returns for tax-exempt trusts or VEBA[i]s, assuming Form 8868 was filed to extend due date (or file a second Form 8868 to request an extension of the due date to November 15)

Special Projects

  • Hold quarterly meeting of the Benefits Committee to review investment performance, fees, plan administration data, and plan operational issues for quarter ending June 30
  • Review ERISA[ii] fidelity bond coverage and fiduciary liability insurance coverage levels with risk management, and renew or change as appropriate
  • Schedule 401(k)/403(b) education seminars for employees to be held in the Fall

[i] Voluntary Employees’ Beneficiary Association Plan

[ii] Employee Retirement Income Security Act

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This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. Any tax advice contained herein is of a general nature. You should seek specific advice from your tax professional before pursuing any idea contemplated herein.

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.

Unless otherwise noted, VAI/VSI, LSF/LSA are not affiliated, associated, authorized, endorsed by, or in any way officially connected with any other company, agency or government agency identified or referenced in this document.

Lion Street Advisors // Lion Street Financial

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