When an employer sponsors a retirement plan for its employees, it must carefully consider, and continually monitor, the plan provisions.
A retirement plan is required to maintain contact information for participants and beneficiaries who are owed a benefit under the plan.
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.
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.
The American Rescue Plan Act expanded Paycheck Protection Program (PPP) loan eligibility to certain labor unions and employee benefit plans.
The American Rescue Plan Act provides significant aid and funding for suffering pension plans, in part through direct financial assistance.
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.
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.
The changes to 401(k) plans brought on by the SECURE Act, signed into law in December 2019, may have been lost in the chaos of [...]
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.