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ARTICLE · 13 APRIL 2018

Top 10 Spring Cleaning Tips For Employee Benefit Plans

Ogletree, Deakins, Nash, Smoak & Stewart
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With laws and regulations governing employee benefit plans ever changing, those responsible for employee benefit plans should constantly check the tidiness of their procedures to ensure compliance.

United StatesEmployment and HR

With laws and regulations governing employee benefit plans ever changing, those responsible for employee benefit plans should constantly check the tidiness of their procedures to ensure compliance. Below are 10 helpful tips to scrub your employee benefit plans this spring.

1 Rethink/Understand Compensation

Whether an item of compensation is included, and for what purpose, under a plan should be carefully considered. Contributions and benefits can be easily miscalculated otherwise. Common compensation errors involve the treatment of bonuses, overtime, nonqualified deferred compensation, or stock options. Align your practice with the plan's terms and ensure payroll codes are properly designated.

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