How much expertise does my auditor need?

Posted by Maria T. Hurd, CPA, RPA Testing the work of a specialist in a retirement plan audit: How much expertise does the financial statement auditor need?   Service providers to the employee benefit plan (EBP) industry are often highly intelligent people that talk in “code”: Internal Revenue Code and ERISA Regulation sections. The legislation that regulates retirement plans encompasses … Continued

401k Auditor - Large Plan 401k Auditor

Tips and Traps of Compensation: Part I

Posted by Maria T. Hurd, CPA, RPA UPDATED 7/11/19 Tips and Traps of Compensation: Part I – The Trouble with True-Ups or Lack of True-Ups When 401(k) and 403(b) plans provide that the match contribution is calculated annually, but administratively, the deposit is done on a payroll by payroll basis, it is important for the plan sponsor to understand and … Continued

Are Employer Matching Contributions for Student Loan Repayments Allowed?

Posted by Tyler Starr, CPA The IRS issued a private ruling on August 17, 2018, to allow an unnamed company to implement a new type of benefit for employees with student loan debt who were eligible to participate in its 401(k) plan. Prior to the private ruling, the company offered a 5% match contribution if employees contributed at least 2% … Continued