Art of the Qualified Plan Audit

403(b) plans are known for the universal availability requirement. Everyone is encouraged to make salary deferral contributions, except for a few types of employees who can be excluded, as follows:

With the fiscal cliff negotiations behind us and impending federal tax reform legislation, Congress will now turn its attention to the debt ceiling and federal spending.

Contrary to the retirement plan industry’s fears, the American Taxpayer Relief Act of 2012 (Act) did not reduce the contribution or compensation limits for retirement plans.

The 2013 plan limits were just released. Below is a chart that outlines the recently announced cost-of-living adjustments affecting retirement plans:

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 […]

Following in his father’s footsteps, Art Vandelay has worked hard to expand the reach of his pizza chain across the whole state of Delaware…

Limited scope audits exclude investment values from the scope of the audit if the assets are held at a regulated financial institution such as…

Posted by Maria T. Hurd, CPA Since the Department of Labor’s final 408(b)(2) and 404(a)(5) fee disclosure regulations were issued, industry experts across all fields have been wanting to know what will be the extent of the auditors’ duty to obtain verification for each plan’s compliance with these new rules. On Thursday, April 12, 2012, … Continued

Posted by Maria T. Hurd, CPA Disclaimer: All blog posts are valid as of the date published. As stated in our previous blog It Takes a Village, plan sponsors use many specialized service providers to successfully administer and account for all the financial activity in their plans. Independent third-party specialists can include payroll companies, third … Continued