There’s No Time to Wait: Plan Sponsors must Update Cybersecurity Practices Now
In April, the Department of Labor (DOL) issued its first guidance on cybersecurity practices for...
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Category: Employee Matters
Is it too Soon for Crypto to Come to the 401(K)?
Cryptocurrencies have increasingly gained traction throughout the last decade. As technology...
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Secure Act 2.0
Retirement plans have experienced some regulation changes over the past year thanks to the SECURE...
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Five Things your Internal Plan Trustee Should Know
Being a plan trustee comes with a stringent set of responsibilities and necessitates having...
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Terminating your DB Plan
There once was a time when employees worked 25-30 years for the same employer and were rewarded...
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Changes to your Retirement Plan’s Limited-Scope Audit
In July 2019, the AICPA issued a new standard, Statement on Auditing Standards (“SAS”) No. 136,...
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Partial Plan Terminations: What Employers and Plan Sponsors Should Know
The COVID-19 pandemic has brought so many different concerns to the forefront for employers,...
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Payroll Tax Deferral Guidance
On Friday evening, August 28th, 2020, the IRS and Department of the Treasury released Notice...
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Guest Article: Cybersecurity and ERISA: Who is responsible?
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.
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New Comparability Plan… Is it Right for You?
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.
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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.
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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.
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