Performing a 401(k) Retirement Plan Self-checkup

When an employer sponsors a retirement plan for its employees, it must carefully consider, and continually monitor, the plan provisions.

2021-09-29T14:13:58-04:00September 28, 2021|Categories: Employee Benefit Plans, Plan Design and Administration, Retirement|Tags: |

Missing Participants in a Retirement Plan

A retirement plan is required to maintain contact information for participants and beneficiaries who are owed a benefit under the plan.

COVID-19 Leave Sharing Program Extended to December 31, 2021

On June 30, 2021, the IRS retroactively extended the COVID-19 leave sharing program, which allows employers to donate employees’ unused PTO to charitable organizations. In exchange, employers can take charitable or business expense deductions.

Employee Benefit Plan Audit Changes Under SAS 136

Statement on Auditing Standards (SAS) No. 136 is quickly coming up on the employee benefit plan horizon. Plan sponsors should familiarize themselves with the changes so they can be fully compliant for periods after December 15, 2021.

2021-07-29T13:24:05-04:00July 29, 2021|Categories: Employee Benefit Plans|Tags: , , , |

American Rescue Plan Act Provides Aid to Pension Plans

The American Rescue Plan Act provides significant aid and funding for suffering pension plans, in part through direct financial assistance.

How the New Employee Benefit Plan Auditing Standard (SAS No. 136) Will Impact Plan Audits

Statement on Auditing Standards No. 136 prescribes certain new performance requirements for an audit of financial statements of employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) and changes the form and content of the related auditor's report. Read more.

2021-07-29T10:21:20-04:00February 26, 2021|Categories: Employee Benefit Plans, Retirement|Tags: , , , , |

IRS Issues Guidance on 401(k) and 403(b) Plans

IRS guidance on the 15% maximum on automatic contributions, 401(k) and 403(b) plan safe harbor requirements and plan loan offset rollovers. Source: RSM US LLP. 

2021-03-08T10:29:05-05:00January 28, 2021|Categories: Accounting, Employee Benefit Plans, Retirement|Tags: , , |

Handling Rehired Employees in a 401(k) Plan

Handling rehired employees correctly in a retirement plan can be difficult. Just because you allowed your last rehire to reenter the plan immediately doesn’t mean you will do it with your next rehire. Learn the requirements to consider when you reenroll an employee.

2020-01-28T16:25:22-05:00July 3, 2019|Categories: Employee Benefit Plans|Tags: |
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