Peer Review Of Form 5500 Forms Revisions Regulation
Andrew McWilliam, Ph.D.
Are the plan universe estimates sufficiently detailed and otherwise
adequate to their purpose of estimating and characterizing burdens?
Unit costs were estimated based on previous estimates of the burden
of reporting requirements implemented for plan year 1999. In light of
that basis, and considering the method by which the current estimates
were inferred from it, are the estimates sufficiently reliable and
detailed and otherwise adequate to their purpose of estimating and
While changes in the underlying costs of filling out forms may affect whether the estimated burden, in aggregate, is too high or too low in absolute terms, the latest form changes should reduce the burden relative to the previous forms, and I think it is unlikely that updated survey estimates would affect this result.
Are the methods employed in the spreadsheet model to generate burden
estimates based on the plan universe and unit cost estimates sound?
Based on the foregoing, what level of confidence would you place in
the burden estimates themselves?
The model also estimates that the proposed forms will reduce the burden relative to the old forms. Based on my review of the materials provided, I believe this result is sound.