by David Torrillo | Aug 3, 2015 | Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b)
On July 31, 2015, the FASB issued Accounting Standards Update No. 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully...
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 | 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...
by David Torrillo | Apr 6, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
The Employee Plans Compliance Resolution System (“EPCRS”) sets forth a comprehensive system of correction programs for sponsors of retirement plans that are intended to satisfy the requirements of § 401(a), 403(a), 403(b), 408(k), or 408(p) of the Internal Revenue...
by David Torrillo | Apr 1, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Retirement - 401(k), 403(b)
The Employee Plans Compliance Unit (EPCU) conducted a Voluntary Compliance Follow-Up project to determine if plan sponsors completed the corrections they agreed to in their Voluntary Correction Program (VCP) compliance statements. When you find errors in your plan’s...
by David Torrillo | Apr 1, 2015 | Employee Benefit Plans, Retirement - 401(k), 403(b)
Recently, the IRS posted guidance for Plan sponsors on loans and hardship distributions. Even if you use a third party administrator (TPA) to handle participant transactions, you’re still ultimately responsible for the proper administration of your retirement plan....
