Art of the Qualified Plan Audit

Posted by Saaib Uppal, Staff Accountant Webster’s dictionary defines a commitment as “an agreement or pledge to do something in the future.”  What Webster doesn’t mention is anything regarding the length of that commitment or the procedures for an opt-out.  Circumstances and factors often arise that make it difficult and even impossible at times to keep a commitment. … Continued

Posted by Maria T. Hurd, CPA Most employers think that the maximum amount every participant can contribute to their 401(k) plans as a deferral from their own salary for 2012 is $17,000 plus $5,500 as a catch-up contribution if they are 50 or over. Unfortunately, the maximum limit may be cut back for the employer’s … Continued