Credits and incentives available to retirement plan sponsors
(authored by RSM US LLP) Employers with less than 100 employees who have recently adopted or are considering a retirement plan have a tax savings opportunity.
The Importance of Choosing a Quality Auditor for Employee Benefit Plans
For years, employee benefit plans (EBPs) have been under a regulatory microscope. Recently, the Department of Labor (DOL) issued a report, Audit Quality Study, November
Tax-advantaged health reimbursement arrangement for employees
Health reimbursement arrangements (HRAs) allow employers to pay employees’ medical expenses on a tax-free basis.
Required minimum distributions after SECURE 2.0
(authored by RSM US LLP) SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs.
Retirement plan changes for long-term, part-time employees
(authored by RSM US LLP) SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.
90-Day Pre-Exam Compliance Program for Retirement Plans
In June, the IRS began piloting a new compliance program for benefit plan sponsors. This program gives benefit plans 90-days’ notice of an upcoming examination,
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.
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.