Much like people who make a wish to be fit with the turkey wishbone after a Thanksgiving feast, many plan sponsors think that their INTENT to be a safe harbor plan is a sufficient defense when they have not met the requirements to be a safe harbor plan.
CPA firms that perform employee benefit audits can voluntarily join the American Institute of Certified Public Accountants’ EBPAQC (the Center).
As part of the Patient Protection Affordable Health Care Act (PPACA), the Patient Centered Outcome Research Institute (PCORI) was created […]
We are closing in on the New Year and just in time to help you meet your New Year’s resolution to meet all your deadlines, attached […]
When the Department of Labor (DOL) made filing changes for Form 5500, it resulted in the revision of Form 8955-SSA. The revision also required that the form must now be filed with the IRS.
As previously discussed in K.I.S.S.: Keep it Simple and Straight Forward with Safe Harbor Plan Designs, the IRS requires that safe harbor 401(k) plans, prior to the beginning of each plan year, […]
In the world of qualified plans, an employee must be given credit for a ‘year of service’ for any ‘computation period’ […]
Most people are familiar with the significance of April 15th as the day we all pay our fair share to Uncle Sam […]
Occasionally, a new or existing tax client of our firm wants to set up a retirement plan. For a small employer with limited accounting and human resources […]
By Michael Mast, CPA – Underfunded defined benefit plans have always been a concern, but the Great Recession magnified the underfunded status of many plans.