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 | Audit Procedures
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 | Uncategorized
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 | Uncategorized
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 | Uncategorized
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 a...
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 it be in writing. For the best protection, your IPS should be in writing, easy...
by JoAnn Cassell | May 9, 2016 | Cyber Safety
Cyber threats pose a growing threat to businesses across all industry sectors, as many rely heavily on the internet as a means to communicate, share sensitive information and transact business. Plan Sponsors collect sensitive information from participants during plan...
by JoAnn Cassell | Apr 8, 2016 | Audit Procedures
401(k) plan audits can be a lengthy and grueling process. Both the IRS and the U.S. Department of Labor hold plan sponsors to strict rules and regulations regarding the administration of these plans, and if not adhered to properly, fines may be imposed or the plans...
by JoAnn Cassell | Mar 9, 2016 | Audit Procedures
With your benefit plan’s audit just around the corner, you should expect many questions to arise which pertain to specific details of your plan. If you familiarize yourself with your plan’s annual reports in advance, including any plan documentation prepared by...
