by David Torrillo | Jan 25, 2016 | Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)
On a recent AICPA Employee Benefit Plan Audit Quality Center webcast, the Chief Accountant of the Department of Labor expressed the DOL’s concerns over cybersecurity. Specifically, the DOL believes that electronic plan records, whether they are maintained...
by David Torrillo | Jan 8, 2016 | Employee Benefit Plans, Forms and Procedures, News and Press Releases
Correction Program & Retirement Plan Changes During 2015, the IRS began classifying Voluntary Correction Program (VCP) fees as user fees subject to IRC 7528. As a result, in 2016, plan sponsors will refer to a new, annual revenue procedure to determine the...
by David Torrillo | Jan 5, 2016 | Employee Benefit Plans, Forms and Procedures, Policy Updates
On January 4, 2016, the Internal Revenue Service (“IRS”) announced guidance in anticipation of the elimination of the 5-year remedial amendment cycle system for individually designed plans under the Employee Plans determination letter program, effective January 1,...
by David Torrillo | Dec 14, 2015 | Employee Benefit Plans
An article recently published in the December PICPA Journal by our Quality Control Director JulieAnn C. Verrekia, CPA. Changes Bring Clarity to EBP Disclosures by JulieAnn C. Verrekia, CPA | Dec 01, 2015 Eye strain comes from struggling to see what is unclear, and it...
by David Torrillo | Dec 9, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
For calendar year plans, the maximum extension due date for Form 5500 series (Annual Return/Report of Employee Benefit Plan) is back to 2 1/2 months or October 15th. An employer that maintains a pension, annuity, stock bonus, profit-sharing or other funded deferred...
