by cpaadmin | Dec 21, 2022 | Audit Insights
A 401(k) audit can feel like a test you didn’t study for. After all, you’ve got lots of other priorities. Here’s the catch: Just three mistakes make up more than half the issues Cassell Plan Audits has seen so far this year. The last few audit seasons haven’t been...
by cpaadmin | Nov 15, 2022 | Cyber Safety
Cybersecurity: it’s another area businesses are spending more and more on. And yep, Department of Labor regulations mean you can get audited on it. It’s no surprise the government wants to take cybersecurity more seriously. The average data breach costs more than $4...
by cpaadmin | Oct 15, 2022 | Employee Termination
Terminating an employee is never easy, but can be necessary. When people leave your company—voluntarily or not—they take the value in their 401(k) plan with them to continue their retirement savings. The catch: this doesn’t happen automatically. After an employee’s...
by cpaadmin | Sep 15, 2022 | 401k Auto-escalation
Auto-escalation is another way you can encourage investment in your 401(k) plan and help your employees put their money to work. With auto-escalation, employees’ 401(k) withholding amount goes up by one percentage point per year until reaching the maximum of 10%....
by cpaadmin | Aug 16, 2022 | 401k Communication
Things that “aren’t your problem” before the introduction of your 401(k) very much become your problem once you have a plan to administer–especially when reviewed in light of irregularities or questions about your plan. It’s a matter of when, not if. Either it will be...
