by JoAnn Cassell | May 26, 2020 | 401k Audit Firm, How to choose an auditor
Auditing your company’s 401k plan can be a disruptive and lengthy process, taking up precious time and human resources. If handled badly, it can end up costing your organization thousands more than it should, not to mention the additional stress it puts on the...
by JoAnn Cassell | Apr 13, 2020 | Audit Procedures, Virtual Audits
Like everyone around the globe, Cassell Plan Audits is closely following the coronavirus pandemic. We’re abiding by the guidelines that our government leaders and health authorities have set, practicing social distancing and refraining from gathering in large groups...
by JoAnn Cassell | Mar 17, 2020 | Audit Procedures
While the term “audit” can strike fear into the hearts of even the most seasoned business professionals, the audit process for your company’s 401(k) plan doesn’t have to be an intimidating one. Any company-sponsored retirement plan with 100 or...
by JoAnn Cassell | Mar 6, 2020 | Audit Procedures
Your company has reached that “sweet spot”: you know your staffing volume has grown, and a benefit audit is imminent. Maybe you’re wondering if the accounting firm you’re with has the ability to manage this huge and important task. At Cassell Plan Audits, we partner...
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...
by JoAnn Cassell | Jan 25, 2018 | Employee Addition
Cassell Plan Audits is pleased to announce the addition of Pamela Orlowski to their team. Pamela has over 7 years of public accounting experience, and over 3 years specializing in audits of qualified plans. Her background also includes general accounting, working...
by JoAnn Cassell | Mar 29, 2017 | hardship distributions
Plan Sponsors of qualified 401(k) and 403(b) plans are advised to be aware of the February 23, 2017 IRS Memorandum, which was issued to agents to help clarify the IRS substantiation guidelines for safe-harbor hardship withdrawals. With this Memorandum, the IRS has...
by JoAnn Cassell | Dec 1, 2016 | Fiduciary, Plan Sponsors
Unfortunately, Money Market Reform does not pertain to improving rates. The SEC announced new money market rules in July 2014 which became effective October 14, 2016. These changes are in response to the events of September 2008, when the bankruptcy of Lehman...
by JoAnn Cassell | Aug 26, 2016 | 5500
New penalty guidelines for ERISA compliance violations will give Plan Sponsors plenty to consider this fall, and the October 15th deadline is quickly approaching. Violations occurring after November 2, 2015, which are assessed after August 1, 2016, may be subject to...
by JoAnn Cassell | Jun 23, 2016 | Fiduciary
Fiduciary responsibility for a company’s retirement plan ultimately rests upon Plan Sponsors. Although an Investment Policy Statement (IPS) is required, the requirement does not specify that it be in writing. For the best protection, your IPS should be in writing,...
