Got M&A? Don’t forget to consider 401(k) plans in your merger or acquisition.

by JoAnn Cassell | Aug 15, 2023 | 401k Compliance, Merger & Acquisitions, Record Retention, Uncategorized

Don’t get surprised at audit time. Stay compliant when handling the 401(k) or benefits plans during a merger or acquisition. Merging or holding companies? Buying a business? “What will happen to our 401(k)?” is a question that rarely comes up. But the last...

What are Agreed-Upon Procedures, and when do you need them?

by JoAnn Cassell | Jul 15, 2023 | 401k Compliance

Don’t require a full-scale audit? There’s an alternative: agreed-upon procedures. In our last blog, we discussed changes to 401(k) audit requirements that mean many small and mid-sized businesses won’t need a formal annual 401(k) audit. To summarize: As a...

A new DOL policy means you may not need a 401(k) plan audit. (Here’s what you need to know).

by JoAnn Cassell | Jun 15, 2023 | 401k Audit Oversight, 401k Compliance, 401k Plan Audit, 5500, Audit Procedures

A new DOL policy means you may not need a 401(k) plan audit. On February 23, the Department of Labor, IRS, and Pension Benefit Guarantee Corporation unveiled major changes to employee benefits plan reporting. Small businesses rejoice as a new Department of Labor rule...

Review BEFORE the audit: not every income type is the same

by JoAnn Cassell | Apr 15, 2023 | 401k Compliance, 401k Compliance Error, 401k Plan Mistakes, Audit Procedures, Eligible compensation discrepancies, Plan Sponsors

Imagine this: The sales team has the best quarter ever. Five of seven team members win record-breaking performance bonuses. To keep the momentum going, they are sent to a team-building retreat in Cancun. The company covers many expenses along the way but still comes...

You’ve changed payroll providers—Here’s what NOT to do to stay 401(k)-compliant

by JoAnn Cassell | Mar 15, 2023 | 401k Compliance

ADP, Gusto, Paychex, and the rest… they make payroll (and life) easier. Small businesses can save millions of dollars a year by forgoing an internal payroll department and outsourcing to one of these respected companies. But watch out! Changing payroll providers...

You think you’re in compliance… your tech says otherwise

by JoAnn Cassell | Apr 20, 2022 | 401k Compliance, Uncategorized

Today’s cloud-based business systems simplify and streamline processes like never before. They can help teams around the world collaborate as if they were just around the corner. But there’s a drawback: your technology can move faster than your compliance. A Japanese...