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 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 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...
by David Torrillo | Nov 13, 2015 | Employee Benefit Plans, News and Press Releases
The DOL has begun to communicate to Plan administrators via e-mail that selecting a qualified CPA who has the expertise to perform an audit in accordance with professional auditing standards is a critical responsibility in safeguarding plan’s assets and ensuring...
by David Torrillo | Oct 23, 2015 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The U.S. Labor Department has issued new guidance regarding economically targeted investments (ETIs) made by retirement plans covered by the Employee Retirement Income Security Act. ETIs are investments that are selected for the benefits they create in addition to the...
