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FASB issues Update Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost

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David Torrillo
Monday, March, 13, 2017 / Published in Employee Benefit Plans, News and Press Releases
  The Board issued in March 2017 Accounting Standards Update (ASU) (ASU) No. 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost. Read More
Defined Benefit PlansFASBNew Accounting GuidancePension Plans

FASB Issues ASU 2017-06, Employee Benefit Plan Master Trust Reporting

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David Torrillo
Monday, February, 27, 2017 / Published in Employee Benefit Plans, News and Press Releases
In February 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2017-06, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965), Employee Benefit Plan Master Trust Reporting (“ASU 2017-06”). Read More
401(k)Defined Benefit PlansFASBNew Accounting GuidancePension Plans

Emerging Issues Task Force Approves Amendments for Benefit Plans’ Investments in Master Trusts

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David Torrillo
Thursday, December, 01, 2016 / Published in Employee Benefit Plans, News and Press Releases
As reported by Thomson Reuters, December 1, 2016, with no debate, a unanimous FASB on November 30, 2016, approved a recommendation from its Emerging Issues Task Force (EITF) to amend U.S. Read More
401(k)FASBNew Accounting GuidancePension Plans

Changes Bring Clarity to EBP Disclosures

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David Torrillo
Monday, December, 14, 2015 / Published in Employee Benefit Plans
An article recently published in the December PICPA Journal by our Quality Control Director JulieAnn C. Verrekia, CPA. Changes Bring Clarity to EBP Disclosures by JulieAnn C. Verrekia, CPA | Dec 01, 2015 Eye strain comes from struggling to see what is unclear, and it often results in headaches. Read More
FASBNew Accounting Guidance

FASB Issues ASU Simplifying Accounting for Employee Benefit Plans

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David Torrillo
Monday, August, 03, 2015 / Published in 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 Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient (consensuses of the Emerging Issues
401(k)403(b)Defined Benefit PlansFASBNew Accounting GuidancePension Plans

FASB issues ASU which Removes Requirement to Categorize Investments Utilizing the Practical Expedient within the Fair Value Hierarchy

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David Torrillo
Sunday, May, 03, 2015 / Published in 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). Read More
401(k)403(b)Benefit Plan AuditDefined Benefit PlansFASBNew Accounting GuidancePension Plans

FASB Proposes Updates Aimed at Simplifying Accounting for Employee Benefit Plans

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David Torrillo
Monday, April, 27, 2015 / Published in 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. Read More
401(k)403(b)Defined Benefit PlansFASBNew Accounting GuidancePension Plans
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  • Policy Updates
  • Retirement – 401(k), 403(b)
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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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