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IRS Updates Procedures of Issuing Opinions on Pre-Approved Plans – Master & Prototype and Volume Submitter Programs Combined into One Program

by | Jul 3, 2017 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)

The IRS in Revenue Procedure 2017-41 updated the procedures for the issuance of opinion and advisory letters by the IRS regarding the qualification in form of Pre-approved Plans. This revenue procedure modifies the IRS’s historic approach to Pre-approved Plans in...

Fiduciary Rule Law as of June 9, 2017 but DOL will not Enforce until January 1, 2018 as it Seeks Pubic Input on the Rule, Considers Changes and Additional Delays

by | May 23, 2017 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates

On May 22, 2017 Alexander Acosta, the Secretary of the Department of Labor (“DOL”) wrote an opinion piece in the Wall Street Journal on the Fiduciary Rule. In it he states: “The Labor Department has concluded that it is necessary to seek additional public input...

Proposed Statement on Auditing Standards, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA

by | Apr 20, 2017 | Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)

On April 20, 2017, the AICPA Auditing Standards Board issued an exposure draft, Proposed Statement on Auditing Standards (SAS), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. This proposed SAS is specific to audits...
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