We all know leading a healthy lifestyle requires not only reactionary health care, but preventive care. Preventive care is critical to living a happy life and avoiding costly medical expenses down the road. The same preventive care advice applies to your company’s employee benefit plans – preemptive action avoids costly penalties later.
The Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) has the authority to conduct audits on benefit plans that are governed by the Employee Retirement Income Security Act (ERISA). These audits can focus on a variety of areas, such as: fiduciary obligations, reporting and disclosure requirements, ERISA protections