Common Plan Errors and Internal Control Shortfalls

By |2021-07-28T12:55:59-05:00July 19th, 2021|Assurance, Change, Compliance, Internal Control|

  Employee retirement plans are a great benefit to provide to employees of your organization, but the requirements associated with them are very specific and numerous. Many plans fail to meet some of the requirements with design of the plan, or they make operational errors. Usually it’s just an oversight. Both of these can lead [...]

CARES Act Retirement Account Rule Changes

By |2021-07-28T15:59:08-05:00June 28th, 2021|COVID-19, Employment, Retirement|

  The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) aims to help Americans cope with the unprecedented financial fallout from the COVID-19 outbreak. The CARES Act made several changes to retirement plan rules that we will discuss in more detail below. As a plan sponsor, it is important to stay up to date [...]

SAS 136: Significant Changes to Employee Benefit Plan Audits

By |2021-08-04T16:33:14-05:00June 7th, 2021|Assurance, Change, Compliance|

Statement on Auditing Standards No. 136 (SAS 136), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, will soon be effective for all employee benefit plans (EBPs) requiring an audit under the Employee Retirement Income Security Act of 1974 (ERISA). The new auditing standard is effective for years ending [...]

SECURE Act – How is Your Retirement Plan Affected?

By |2021-07-28T15:59:03-05:00May 24th, 2021|Compliance, COVID-19, Employment, Retirement, Saving|

  The SECURE (Setting Every Community Up for Retirement Enhancement) Act was signed into law in December 2019 and contains many provisions that are designed to help Americans save more for retirement, begin saving for retirement, and use retirement funds responsibly. The SECURE Act was some of the most significant legislation affecting retirement plans in [...]

The 80–120 Participant Rule

By |2021-07-28T15:59:13-05:00April 26th, 2021|Assurance, Compliance, Retirement|

The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans. One of these requirements is that “large” plans undergo an annual audit. At first glance of the audit requirements, [...]

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