Insights Center: 2025 Tax & Legislative Changes
Individuals, businesses and not-for-profit organizations are all affected by the new tax law – and we are ready to help. Start by staying informed; you’ll find our analyses of the new law’s many provisions here.
LEARN MOREDefined Contribution Plan Restatements Must Be Completed by July 31, 2022
The Internal Revenue Service (IRS) announced that employers who sponsor defined contribution retirement plans through the adoption of an IRS pre-approved plan document will have until July 31, 2022 to adopt a new pre-approved plan document.
IRS Revised Priority Guidance: Employee Plan Examinations and Compliance Initiatives
The Tax Exempt & Government Entities (TE/GE) Division of the IRS recently released their 2021 Program Letter outlining the priorities for their compliance program initiatives for the year.
Retirement Plan Nondiscrimination and Other Compliance Tests
As the 2020 plan year audit season approaches, it is important for plan sponsors to remember their responsibility for conducting required nondiscrimination and other compliance tests relating to a retirement plan in a timely manner.
Retirement Plan Missing Participants – DOL Guidance (Finally) and Action Plan
A common problem for retirement plan administrators is the maintaining of current contact information of former employees during the period of time when they leave a company to the time they become eligible to receive benefits from the retirement plan.
Pension and Health Provisions of the CAA, 2021
As part of our commitment to helping our clients stay informed of changing Employee Benefits issues, we are pleased to provide you with new information and perspectives that were included in the Consolidated Appropriations Act (CAA, 2021).
Impact of SAS 136 on Audits of Employee Benefit Plans
Statement on Auditing Standards (SAS) 136 addresses the audit of employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) and deals with the form and content of the audit report.
IRS Examination Topics
During 2020, our Employee Benefit Services Group represented several retirement plans that were selected for examination by the Internal Revenue Service (IRS).
Update: 403(b)/457(b) Plans
During 2020, our Employee Benefit Services Group represented several retirement plans that were selected for examination by the Internal Revenue Service (IRS).
Part-Time Workers: Start Counting Hours
The Setting Every Community Up for Retirement Enhancement (SECURE) Act (the Act) of 2019 seeks to expand retirement plan coverage for U.S. workers.
2021 Cost of Living Adjustments
Plan sponsors should review the cost of living adjustments (COLAs) to determine what, if any, changes need to be communicated to employees by means of orientation meetings and enrollment forms.
Your Retirement Plan Benefit Statement Will Be Changing
The Department of Labor (DOL) has recently published Interim Final Regulations (Regulations) pursuant to changes enacted by the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) which require plan administrators of defined plans [e.g., 401(k) and 403(b)] to express a participant’s current account balance both as a single life annuity and a qualified joint and survivor annuity stream on their pension benefit statements at least once every 12 months.