How Did the EPCRS Improve Loan Correction Opportunities?
On April 19th, the IRS issued an update to the EPCRS which expands the Self-Correction Program (SCP) to cover certain plan loan failures.
Oops! How do I make it right? IRS Correction Program Options for Common Plan Errors
Posted by Maria Hurd, CPA Disclaimer: All blog posts are valid as of the date published. In a highly regulated industry with complicated rules that always have exceptions (except when the exception does not apply) it is inevitable that sooner or later a failure to follow the plan document will take place. Such operational errors can be corrected through the … Continued
Nothing is Certain but Death, Taxes, and Retirement Plan Operational Errors
In this world, nothing can be said to be certain, except death, taxes, and retirement plan operational errors. Two decades of plan audits have shown time and time again that even the most accurate plan sponsor is not immune from making one of the common errors.
Without extra fanfare: What are the available safe harbor plan formulas?
By special request, following is a summary of the basic available safe harbor formulas, with no extra editorials. See bullet points for information about enhanced match opportunities.
How do you Maximize Contributions to your Plan with a Triple Stack Match?
In my previous blog, “How to Order a Triple Stack Match for your Plan,” I discussed the basics of the triple stack match formula.
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.
Almost There: Moving Closer to the New EBP Audit Standard
The Auditing Standards Board (ASB) has released a Final Balloted Draft of Statement on Auditing Standards, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA ( Final Balloted Draft).
Did You Hear that the IRS made Hardship Distributions “a Little Less Hard”?
The IRS is striving to make the process of taking hardship distributions “a little less hard” through proposed regulation issued on November 14th, 2018, ushered by the Bipartisan Budget Act of 2018 (BBA).
IRS Announces Increases on Benefits and Contributions Dollar Limitations
The IRS has announced cost-of-living adjustments that should be noted for retirement planning purposes.
Below is a chart that outlines employee benefit plan limits for 2019:
All Good Things Come to an End: A Tale of Significant Changes in VCP Fees Affecting Small Benefit Plans
In the 14th century epic poem the Troilus and Criseyde, Geoffrey Chaucer portrays a tragic love tale between Troilus, a Trojan warrior, and Criseyde, the daughter of a Greek fortuneteller.