Thompson, Bostrom & Associates, LLC
The increasing compliance burden is particularly difficult for small and medium-sized organizations, many with one or two person HR departments tasked with day-to-day HR functions. COBRA administration, HIPAA compliance, Flexible Spending Account (FSA) administration and 401(k) administration, and now SBC compliance, make the HR administrator's job complex and daunting. And getting into the weeds on the broad range of compliance issues is not typically within the broker or consultant's bailiwick. According to Grudzien, these burdens will only increase: the DOL and IRS have increased hiring of auditors to monitor compliance across the board, with a particular focus on SBC compliance, which adds pressure to client communication practices. When you work with our firm, you can rest assured that we have the expertise and the systems to help our clients alleviate these burdens.
My Legal Help
DOL Audit Compliance
Few small or medium-sized businesses have the dedicated resources to prevent costly lawsuits and the loss of intellectual property. My Legal Help provides you with an affordable and responsive means of avoiding employment law mistakes, safeguarding your business and protecting your assets.
My Legal Help provides answers on all aspects of employment law–within one business day. Subscribers submit questions which are answered by our team of legal experts, headed up by prominent ERISA attorney, Larry Grudzien.
The U.S. Department of Labor has increased resources to regulate and enforce employment laws -- with a particular emphasis on auditing health reform compliance.
Our agency offers an HR software tool, which provides you with a secure, online audit service that simplifies compliance by facilitating the access, distribution, and tracking of up-to-date documents, from cafeteria plans to SBC documents.
Get support with employee benefits, handbook templates, law details and more with BASIC HR.
In a recent survey, 57% of companies said they had dealt with an employee-related lawsuit in the past five years. Plus, employees win lawsuits two-thirds of the time with the average employment verdict exceeding $250,000 and the cost of defense exceeding $100,000.