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2021 Employee Benefit Plans Update

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David Torrillo
Thursday, May, 13, 2021 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b), Uncategorized
As a firm which specializes in the audits of employee benefit plans, we continually monitor accounting, regulatory and current events which may impact plans. As a member of the Employee Benefit Plan Audit Quality Center (EBPAQC), we recently attended the May 2021 American Institute of Certified Public Accountants (AICPA) annual Employee Benefit Plans Conference. Read
401(k)403(b)403(b) Examination TrendsAudit QualityBenefit Plan Auditcompliance resolution systemCybersecurityDefined Benefit PlansDetermination Letter ProgramDOLEBSAEFAST 2 Filing of Form 5500sEnforcement prioritiesEPCRSIRSMortality Tablespenalty noticesPension PlansPlan Fiduciary UpdatePre-Approved PlanRegulatory Priorities

It’s Up to Plan Sponsors to Track Loans, Hardship Distributions

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David Torrillo
Wednesday, April, 01, 2015 / Published in 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. Read More
401(k)403(b)403(b) Examination TrendsEnforcement prioritiesIRS

Avoid IRS Scrutiny – Review Your Form 5500 for Errors

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David Torrillo
Wednesday, February, 11, 2015 / Published in Employee Benefit Plans, Forms and Procedures, Retirement - 401(k), 403(b)
Errors Recently the Internal Revenue Service (“IRS) posted what it finds as common Form 5500 errors and how to avoid them and IRS Scrutiny. In many Employee Plans Compliance Unit (EPCU) projects, the IRS find mistakes when plan sponsors enter incorrect information on their Form 5500 series returns or information reports. Read More
401(k)403(b)403(b) Examination TrendsEFAST 2 Filing of Form 5500sForm 5500IRS

DOL Field Assistance Bulletin 2014-01: Fiduciary Duties and Missing Participants in Terminated Defined Contribution Plans

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David Torrillo
Tuesday, August, 19, 2014 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The DOL recently issued Field Assistance Bulletin 2014-01 which details procedures fiduciaries should take to find missing participants and properly distribute account balances. The Bulletin suggests that fiduciaries use certified mail, check related plan and employment records, ask the designated plan beneficiary, and search the Internet to find missing participants.   Read More
401(k)403(b)403(b) Examination TrendsDOLEBSAERISAIRSPlan Fiduciary Update

Recent Posts

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Categories

  • Employee Benefit Plans
  • Forms and Procedures
  • News and Press Releases
  • Policy Updates
  • Retirement – 401(k), 403(b)
  • Uncategorized

Torrillo & Associates, LLC specializes in employee benefit plan audits, 401k audits, 403b audits, pension plan audits, and retirement plan audits. We are licensed in 7 states including New York, New Jersey, and Pennsylvania.  With firm mobility, we are also able to practice in an additional 27 states.

36 Regency Plaza
Glen Mills, PA 19342

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