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...
by JoAnn Cassell | Apr 20, 2022 | 401k Compliance, 401k Plan Mistakes, Record Retention
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...
by JoAnn Cassell | Dec 16, 2021 | 401k Plan Mistakes, Audit Insights
You probably already know your 401k plan must satisfy certain plan qualification requirements enforced by the IRS. But what you may not know is that if your plan fails to meet these requirements, you, the employer, and the plan fiduciary may be subject to personal...
by JoAnn Cassell | Aug 18, 2021 | 401k Compliance Error, 401k Plan Audit, 401k Plan Mistakes, Eligible compensation discrepancies
It happens… you’ve performed your audit and discovered some discrepancies. If you’ve ever found yourself in this position, you’re definitely not alone. In fact, eligible compensation errors are so common that they’re included in the IRS...
by JoAnn Cassell | Feb 28, 2020 | 401k Plan Mistakes, Audit Insights
Employee benefits can become a minefield in terms of compliance — and that’s why auditing is so important (and not simply a requirement). As your friendly neighborhood auditor, I wanted to share the top 5 findings my team and I found in our work this year – to...
