2023 Nonprofit Update Part II Track A Employee Benefits & HR Update Cerini & Associates, LLP, a leader in providing accounting, auditing, and consulting services to nonprofits, held their virtual 2023 annual Nonprofit Update conference on July 28, 2023. The world...

Plan design decisions impact costs for both employers and employees. Employers and their advisors can manipulate the levers of plan design to manage costs but these changes can also increase costs for participants, creating dissatisfaction and barriers to care. What...

February 2023 Cerini Connection Topic: Employee Benefits Ken Cerini and guest Ed Probst of Vanguard Benefits discussed: - Using Benefits to Attract & Retain Talent - Self-Insurance- Understanding the risks - Planning for rising healthcare costs. - Benefits Compliance-...

2021 2022 2023 401(k)/403(b)/457(b) Elective Deferral Limit $19,500 $20,500 $22,500 Catch-up Contribution Limits:(for Plan Participants age 50 and older) 401(k)/403(b)/457(b) Plans $6,500 $6,500 $7,500 SIMPLE Plans $3,000 $3,000 $3,500 Traditional IRA/ROTH IRA $1,000...

With the Department of Labor (“DOL”)’s recent expansion of audits of employee benefit plans it’s important to consider the various factors that may trigger an audit and whether or not your organization is at risk. While some plans are chosen at random, factors that...

A periodic self-audit of your company’s retirement plan is crucial to ensure compliance with rules and regulations set by governing bodies such as the Internal Revenue Service (“IRS”) and the United States Department of Labor (“DOL”). Selecting provisions for your...

The IRS Form 5500 is an annual report that’s filed with the U.S. Department of Labor that contains pertinent information about a pension plan’s financial condition.

The COVID-19 pandemic has presented many challenges for nonprofits making it difficult for them to operate as they have in the past. During this time, especially throughout 2020, many nonprofits and their employees were not able to offer in person services. Instead,...

It is the end of the calendar year and the holiday season which can mean for many employees their employer will be looking to reward a year of hard work with year-end bonuses. Both employees and employers can often be shocked and saddened when they see the net pay...

For many, work and their co-workers can be like a family. As such, there are instances where employees may wish to “donate” earned paid time off (PTO) to other employees who may need it, typically to cover some sort of long-term medical condition or other emergency. This benefit is designed to be altruistic and allow co-workers to help another in need. Programs like this are especially popular now given the COVID-19 pandemic and the need to quarantine and isolate and to deal with potential long-term repercussions of the disease. However, there can be unseen tax consequences to these programs.