In March 2020, the Securities Exchange Commission (SEC) amended its definition of accelerated and large accelerated filers. In Release No. 34-88365, the accelerated filer definition under Rule 12b-2 of the Exchange Act of 1934 (Rule 12b-2) was amended to exclude issuers that qualify as a smaller reporting company (SRC) under the SRC revenue test. As […]
Some plan sponsors are taking auto-enrollment a step further by also adding auto-escalation to their plans, automatically increasing the percentage of pay that’s contributed.
CHECK BACK FREQUENTLY FOR ADDITIONAL INFORMATION. WE WILL CONTINUE TO ADD HELPFUL RESOURCES. Firm News Our nation is facing an unprecedented challenge. For many of us, the past week, and the weeks to come will be unlike anything we have ever experienced. Although there are obstacles to be faced as we deal with the impact […]
When monitoring controls to evaluate recordkeeper contracts, consider the following suggestions for getting the most out of your plan’s recordkeeping services.
Errors associated with not following your benefit plan’s definition of eligible compensation can lead to a wide range of problems for your organization and your employees. Take steps to try to avoid these errors and make sure your plan remains in compliance.
As a plan sponsor, you are responsible for providing a comprehensive census report to your third-party administrator and other relevant service providers annually. This census report is the starting point for your plan’s audit.
New reporting standards apply to nonprofits that are required by statute to have audited financial statements. Here are the three most significant changes included in the new rules: redefining net assets, clarifying liquidity disclosures, and presentation of expenses.
Cybersecurity issues are different for ERISA employee benefit plans than they are for other areas of your business. Therefore, your cybersecurity risk mitigation plan should be separate and distinct from your enterprise-wide cybersecurity plan, although it may align and integrate with other existing plans.
When was the last time you closely examined your retirement plan’s internal controls? Strong internal controls are essential not only to ensure that your retirement plan remains in compliance with all regulatory requirements and plan provisions, but also to guard against fraud.