Thursday was the deadline for most qualified retirement plans to file their Form 5500, that often-maligned bureaucratic entanglement that is the only real mechanism that government and the private sector have to understand the retirement industry.
By one account in a recent Government Accountability Office report on the inefficiencies of the form, 5500s can end up being over 1,000 pages long. The problems spotlighted by the GAO could, of course, contribute to problems in meeting Thursday's deadline.
As most deadline-busters know, the DOL's Delinquent Filer Voluntary Compliance Program is a purgatory, of sorts, for sponsors and administrators that simply can't get their Form 5500 done on time, or simply don't want to.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
