by David Torrillo | Jul 10, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases
Notice 2015-49, Use of Lump Sum Payments to Replace Lifetime Income Being Received By Retirees Under Defined Benefit Pension Plans, informs taxpayers that the Treasury Department and the IRS intend to amend the required minimum distribution regulations under §...
by David Torrillo | Jul 8, 2015 | Employee Benefit Plans, News and Press Releases
In its report, the Employee Plans (EP) Subcommittee reviewed the current status of the 403(b) community, with specific focus on areas that have resulted in a lower level of compliance with the Code and created excess operational costs. In the EP Subcommittee’s...
by David Torrillo | May 29, 2015 | Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)
As we had previously reported, the Office of the Chief Accountant (OCA), Employee Benefits Security Administration (EBSA), U.S. Department of Labor (DOL), has recently completed an assessment of the quality of audit work performed by independent qualified public...
by David Torrillo | May 3, 2015 | Employee Benefit Plans, News and Press Releases, Policy Updates
The FASB issued on May 1, 2014 Accounting Standards Update 2015-07, Fair Value Measurement (Topic 820), Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). The amendments in Accounting Standards Update 2015-07...
by David Torrillo | Apr 27, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases
As expected, the FASB proposed three Accounting Standards Updates (ASUs) aimed at simplifying accounting for employee benefit plans. According to the AICPA Journal of Accountancy, the updates were the result of consensuses of FASB’s Emerging Issues Task Force. The...
by David Torrillo | Apr 14, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
On April 14, 2015, the U.S. Department of Labor has released a proposed rule that they believe will protect 401(k) and IRA investors by mitigating the effect of conflicts of interest in the retirement investment marketplace. A White House Council of Economic Advisers...
