Compliance July 14, 2015

IRS Provides Summary of Form 5500 Changes

The Form 5500 filing deadline is July 31 for calendar year-end retirement plans.
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The Internal Revenue Service (IRS) has issued a reminder that the deadline for calendar year-end retirement plans is looming, and has posted on its website a summary of changes to this year’s form.

In December, an advance information copy of the 2014 Form 5500 annual return/report and related instructions gave a heads up about the changes. One welcome change is the elimination of an attachment traditionally required for all plans.  

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The following forms and schedules have changes from the previous year: Form 5500, Form 5500-SF, and schedules H, SB and MB for Form 5500. Details of the changes are on the IRS website.

Break from the Grind July 14, 2015

Some Workers Unsure How to React to Workplace Emergency

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While the vast majority of workers (94%) feel their office is a secure place to work, nearly one-quarter (23%) say they would not know what to do to protect themselves if there was an emergency in their office that posed a physical threat, according to a survey from CareerBuilder.

When asked about their feelings of security in regards to specific forms of threat, three in ten employees (30%) do not feel their workplace is well-protected from a physical threat from another person, and the same percentage (30%) feel their workplace is not well-protected from a digital hacking threat.

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Most workers (85%) feel their workplace is well-protected in case of a fire, flood or other disaster, and 83% feel their workplace is well-protected from weather-related threats.

One in five workers (21%) report their company does not have an emergency plan in place in case of fire, flood or other disaster, and 26% say the same of extremely severe weather. Four in 10 workers do not believe their company has an emergency plan in place in case of a physical attack from another person or a technology security breach.

“Keeping employees protected means not only putting measures in place to keep them safe, but making sure employees are aware of the policies and procedures they can protect themselves, too,” says Rosemary Haefner, chief human resources officer of CareerBuilder.

The national online survey was conducted on behalf of CareerBuilder by Harris Poll between February 11 and March 6, and included a representative sample of more than 3,000 full-time, U.S. workers across industries and company sizes.

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