Here are a few of the high priority issues currently affecting employee benefit plans:

Retirement Plans

• EGTRRA limitations increased - many of the new limitations and dollar amounts introduced under EGTRRA are indexed to increase each year through predefined annual adjustments. For these limits, please contact EBSC.
• Plan design issues - whether you're frustrated with 401(k) refunds and failed ADP tests, attempting to reduce plan expenses or trying to maximize contributions, there could be new opportunities to revise or expand your plan's design to meet changing goals and priorities.

Fringe Benefit / Flexible Benefit Plans

• HIPAA Privacy laws - new requirements became effective for many employers. Designed to protect the privacy of medical information, these complex laws could have significant implications for plan sponsors, their partners and administration providers in how they process, manage and report medical information.
• Health Reimbursement Arrangements (HRAs) - this specific type of plan could offer significant benefits to health care reimbursement programs. A HRA can offer dramatic flexibility in how employers spend their benefits dollars and could include a provision for employees to carry over unused account balances across plan years.