Articles & Publications

Stay on the Right Side of the IRS: Easy Steps to Keep Your 401(k) Plan Compliant

Running a 401(k) plan for your business is a great benefit for your employees, but it comes with some significant responsibilities. If you don’t follow the rules correctly, you could face fines or even lose the plan altogether. But. Read More >>

DOL Issues Changes to Form 5500: Smaller Benefit Plans To Be Excused From Audits Starting in 2024

The U.S. Department of Labor (DOL) has recently modified long-standing rules regarding which plans are required to be audited annually for filings on Form 5500. The current rules, which will remain effective for 2022, require that any plan with. Read More >>

SECURE Act 2.0 Makes Sweeping Changes to Retirement Plans

In December 2022, Congress passed an omnibus spending bill that included a significant portion dedicated to the Secure 2.0 Act of 2022, which makes significant changes and enhancements to retirement planning laws in the United States. We’ve included a. Read More >>

IRS Launches Pilot Pre-Examination Retirement Plan Compliance Program

In its June 3, 2022, Employee Plans Newsletter, the Internal Revenue Service announced a pilot compliance program affecting retirement plans and their sponsors. Under this pilot program, the IRS will notify a plan sponsor by letter 90-days in advance. Read More >>

Investment Diversification with Active and Passive Plan Investment Options

The fiduciary responsibility of plan sponsors is to periodically review policies for their retirement plans. While most plan sponsors consider a balance between large-cap and small-cap, global and domestic, and equity and bond investments in their investment policies, plan. Read More >>

Designing a 401(k) Matching Program to Meet Your Objectives

We’ve found over the years that it can be challenging to get employees to set aside money for their retirement. By providing a matching contribution to your employees, you are helping to incentivize them to put their own money. Read More >>

The Changing Face of the Employee Benefit Plan Limited Scope Audit

As we noted last month, the Employee Retirement Income Security Act of 1974 (ERISA) requires that employee benefit plans with 100 or more eligible participants are required to have their financial statements audited annually, which should be attached to. Read More >>

Employee Benefit Plan Audits: What It Is and When You Might Need One

June 18, 2021 Benefit Plans

Background The Employee Retirement Income Security Act of 1974 (ERISA) requires that certain companies offering employee benefit plans must have their plan audited annually. The audit reports not only on the plan’s financial standing but the process can also. Read More >>

Partial Plan Terminations – How Does This Affect My Business?

Because of the current economic uncertainty due to COVID-19, some businesses have had to lay off considerable portions of their workforce, many with the hope of rehiring the individuals sometime down the road. Whether these layoffs are temporary or. Read More >>

Employee Benefits: The Implications of the New Laws in Response to COVID-19 / Coronavirus

Jim Merklin discusses how businesses’ and individuals’ benefit plans are being impacted by the SECURE Act AND CARES Act, which was put in place as a result of COVID-19.   Read More >>