The COVID-19 pandemic has brought so many different concerns to the forefront for employers, whether it be business owners or executive directors, such as PPP Loans, SBA EIDL loans, CARES Act tax credits, unemployment insurance reimbursements and frankly, just keeping...
Why Testing is Important for Pensions
As auditors, we are always busy performing different types of testing, especially controls and compliance-based test work. While there is a common stigma about auditors and audits in general, and they have a “gotcha” sort of mentality, there is a tremendous benefit that a company can derive from the work they perform. The truth is, our goal is to ensure that companies and organizations are complying with rules and regulations so that they can avoid costly errors, especially when it comes to defined contribution pension plans.
Life Insurance Options for Pensioners
Many employees of school districts across the Island are approaching retirement age and may not be aware of how to maximize their pension benefits. Some may not realize that with the right kind of planning, they may be able to retire sooner than they think.
Paycheck Protection Program Loan Update – April 7, 2020
NYS Paid Family Leave Now Classifies COVID-19 Diagnosis as a Serious Health Condition
Paycheck Protection Program Loans
Coronavirus Aid, Relief, and Economic Security (CARES) Act – Individual Tax Provisions
Guest Article: New Executive Order Addresses Healthcare Issues
Updated Health Reimbursement Arrangements 2019
Hardship Withdrawals
Picking Your Pension Plan Provisions
Payroll Tax Deferral Guidance
Sep 1, 2020
On Friday evening, August 28th, 2020, the IRS and Department of the Treasury released Notice 2020-65 providing brief guidance as it relates to the August 8th, 2020 executive order allowing for a potential employee payroll tax deferral. Executive Order Deferring...
Guest Article: Cybersecurity and ERISA: Who is responsible?
Jul 30, 2020
Cybersecurity risks are not new. We’ve been dealing with data breaches for years, and if we’ve learned one thing, it’s that hackers are smart. Hackers can infiltrate even the most complex security systems in the pursuit of personal information. It was only a matter of time until retirement plans, rich with personal information and money, fell victim to data breaches too. And like most companies navigating the aftermath of a data breach, retirement plan sponsors and service providers can easily find themselves in the midst of intense litigation.
New Comparability Plan… Is it Right for You?
Jul 30, 2020
Pension plans should be an important part of every business’ benefits package. Not only do they let business owners/executives and employees to set aside funds for their retirement, but they provide the added ability for companies to assist in the process and make contributions on behalf of their staff, to help them better position themselves for retirement.
Why Testing is Important for Pensions
Jul 30, 2020
As auditors, we are always busy performing different types of testing, especially controls and compliance-based test work. While there is a common stigma about auditors and audits in general, and they have a “gotcha” sort of mentality, there is a tremendous benefit that a company can derive from the work they perform. The truth is, our goal is to ensure that companies and organizations are complying with rules and regulations so that they can avoid costly errors, especially when it comes to defined contribution pension plans.
Life Insurance Options for Pensioners
May 26, 2020
Many employees of school districts across the Island are approaching retirement age and may not be aware of how to maximize their pension benefits. Some may not realize that with the right kind of planning, they may be able to retire sooner than they think.
Paycheck Protection Program Loan Update – April 7, 2020
Apr 7, 2020
After a rocky launch of the PPP loan program on Friday, April 3rd, many banks and lenders have started to sort out their internal processes and client-facing applications in order to start the process of providing much-needed relief to businesses and organizations....
NYS Paid Family Leave Now Classifies COVID-19 Diagnosis as a Serious Health Condition
Mar 31, 2020
In light of the ever-growing Coronavirus pandemic, New York State has filed an emergency adoption to make any COVID-19 diagnosis a serious health condition. This emergency amendment was added to Title 12 NYCRR, section 355.9, making it legally possible to take family...
Paycheck Protection Program Loans
Mar 31, 2020
One of the most anticipated and popular provisions in the CARES Act is the expansion of Small Business Administration (SBA) 7(a) Loans with new Paycheck Protection Program loans. These loans are non-recourse to owners, 100% Federally guaranteed and can be used to pay...