February 17, 2017

In most cases, participants’ immediate and heavy financial need must be established based on “all relevant facts and circumstances” before they are eligible to request a hardship distribution. Yet, the IRS has established safe harbor rules that automatically consider an employee to have such a need if the distribution is used to cover a few specific expenses.

January 6, 2017

Just as with hardship distributions, it’s up to plan administrators to ensure that participant loans are in full compliance with IRS and DOL regulations, and that the loan process is thoroughly documented.

January 15, 2016

Hiring a qualified CPA firm to conduct your employee benefit plan audit is critical to avoiding fines and penalties from the Department of Labor. We outline the eight things you should discuss with a prospective auditor before entering into an engagement.

October 6, 2014

As an employee benefit plan administrator, you have a clear fiduciary responsibility to ensure the quality of your plan’s audited financial statements. Hiring an experienced, high-quality auditor is a critical first step. An audit performed by an unqualified firm can result in operational failures being missed and a deficient audit being submitted. Such an audit […]

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