EBSA Disaster Relief Notice 2020-01

Posted By Christopher J. Ciminera, CPA, QKA Throughout the COVID-19 pandemic, the Employee Benefits Security Administration (EBSA) had been relatively quiet on retirement plan compliance relief. That changed with Disaster Relief Notice 2020-01 issued on April 29, 2020. This notice provides guidance and relief for employee benefit plans due to the COVID-19 outbreak. Time Period Covered The notice applies from … Continued

EBSA Disaster Relief Notice 2020-01 – Correcting Late Salary Deferral Deposits

Posted by Christopher J. Ciminera, CPA, QKA On Tuesday, April 28 my blog, “How Do I Correct Late Salary Deferral Deposits?,” was posted. Coincidentally, the very next day the Employee Benefits Security Administration (EBSA) Disaster Relief Notice 2020-01 was posted. In this notice, the EBSA provides relief to plan sponsors regarding the possibility of lags in deposits due to the recent … Continued

How Do I Correct Late Salary Deferral Deposits?

Posted by Christopher J. Ciminera, CPA, QKA Update – April 29, 2020 On Wednesday, April 29, 2020 the Employee Benefits Security Administration (EBSA) also posted a Disaster Relief Notice 2020-01. In this notice, the EBSA provides relief to plan sponsors regarding the possibility of lags in deposits due to the recent COVID-19 issues which was addressed in my blog below. … Continued

Defined Contribution Plan Auditor

Almost There – Part II

In my last blog, Almost There: Moving Closer to the New EBP Audit Standard , I gave a brief background on what led to SAS 13X – Statement on Auditing Standards Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA (“Final Balloted Draft”) and its proposed changes to the audit report.

Plan Adviser Magazine: Avoidance Strategies

I had the honor of being selected as a resource for an article “Avoidance Strategies: How advisers can help sponsors steer clear of common plan errors” in the May/June issue of Plan Adviser magazine,

Self Audits

Self-Audits

Let’s face it, humans make mistakes. John Wooden said “If you’re not making mistakes, then you’re not doing anything.” In my blog titled “Internal Controls in a Retirement Plan,” I pointed out the importance of controls at the plan sponsor and its service providers to help prevent mistakes in plan administration, help prevent fraud within the plan…