IRS 90-day pre-examination compliance pilot for retirement plans
(authored by RSM US LLP) The IRS is piloting a pre-examination compliance program for retirement plans, which provides plan sponsors with 90-day window to review plan operations and make corrections prior to examination.
SAS 136: Changes to the auditor’s report
(authored by RSM US LLP) For employee benefit plans subject to ERISA, Statement on Auditing Standards No. 136 changes the look of the auditor’s report.
SAS 136: The communication of reportable findings
(authored by RSM US LLP) SAS 136 includes requirements to communicate reportable findings identified as a result of testing relevant plan provisions.
SAS 136: Preparation before year end
(authored by RSM US LLP) Before year end, plan administrators or trustees and their auditors should discuss certain preconditions of the audit.
IRS releases 2022 retirement plan limitations
(authored by RSM US LLP) The IRS has released its annual cost-of-living adjustments for retirement plan limits, effective Jan. 1, 2022.
The Importance of Choosing a Quality Auditor for Employee Benefit Plans
For years, employee benefit plans (EBPs) have been under a regulatory microscope. In November 2021, the Department of Labor (DOL) will begin to assess the
SAS 136: Changes for employee benefit plans and their auditors
(authored by RSM US LLP) SAS 136 will affect audits of employee benefit plans subject to ERISA effective for periods ending on or after December 15, 2021.
Performing a 401(k) retirement plan self-checkup
(authored by RSM US LLP) When an employer sponsors a retirement plan for its employees, it must carefully consider, and continually monitor, the plan provisions.
IRS updates its Employee Plans Compliance Resolution System (EPCRS)
(authored by RSM US LLP) EPCRS is a summary of the rules that the IRS uses to assist employers in correcting retirement plan mistakes without disqualifying the plan.
Missing participants in a retirement plan
(authored by RSM US LLP) A retirement plan is required to maintain contact information for participants and beneficiaries who are owed a benefit under the plan.
Understanding revenue sharing
(authored by RSM US LLP) Learn the importance of discussing with a plan advisor how best to customize plan fees based on circumstance and available options.
Partial plan terminations, 2020 and COVID-19
(authored by RSM US LLP) A consequence of COVID-19 reductions is potential partial plan termination. Learn the requirements of a partial plan termination.