by cpaadmin | Aug 15, 2024 | 401k Compliance, 401k Plan Mistakes, Regulations & Policies, Uncategorized
We’ve heard it all, over the 10+ years Cassell Plan Audits has been operating. Excuses like, “It wasn’t that late” and “We didn’t know” when our clients didn’t deposit 401(k) plan contributions and loan payments on time. Unfortunately, getting 401(k) plan...
by cpaadmin | Jun 15, 2024 | 401k Compliance, 401k Plan Audit, Audit Procedures, Preparing for a 401(k) audit, Regulations & Policies
Here’s how to determine the number of qualifying participants for your 401(k) audit. The total number of participants with balances in your retirement plan drives how the IRS Code and the Department of Labor see your plan. For audit purposes, this definition...
by cpaadmin | Dec 15, 2023 | 401k Compliance, Employee Addition, Plan Sponsors, Record Retention, Regulations & Policies, SECURE Act
It’s official! The IRS (finally!) released guidance on the new treatment of LTPT employees (long-term part-time) vis-a-vis your 401(k) plan. And not a moment too soon! Changes are effective 1-1-24. Here’s what you need to know to treat LTPT employees properly in the...
by cpaadmin | Oct 15, 2021 | 401k Plan Audit, Uncategorized
Do you know the real cost of your plan? 401(k) plans are attractive to employers for retaining and recruiting employees, but all 401(k) plans come with a price. No surprise, right? Yet, costs shouldn’t prevent you from offering this benefit to your employees, just try...
by cpaadmin | Sep 15, 2021 | Retirement Plan, Uncategorized
Establishing a 401(k) retirement plan is simple. After all, you just have to choose vendors, draft legally sound documents, operate the plan, and stay in compliance. No big deal, right? Actually… not so much. Setting up a 401(k) plan involves many moving pieces...
