Securing a Strong Retirement Act of 2020

COVID-19 has had a monumental impact on the economic landscape in 2020, and the repercussions will be felt long after the year is over. While economic studies of retirement contributions for 2020 have found that most participants stayed the course during the pandemic and continued regular retirement contributions, the overwhelming

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Does Your 401(k) Plan Need An Audit?

Some businesses’ 401k and retirement plans are too small to need an external audit. Generally speaking, only when your participant count exceeds 100 will you be required to conduct a benefit plan audit. However, there is one exception to this general rule. The “80-120 rule,” as it is commonly known,

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The SECURE Act – New Retirement Plan Legislation

On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement (“SECURE”) Act. The new rules will allow individuals to save more for retirement and influence how they can use the funds over time. These changes should have an immediate impact on plan sponsors and participants

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Unlock Key Benchmarking Data in Your Financial Statement

Many manufacturing companies are looking for new ways to reduce costs and enhance profitability. For some this means upgrading equipment or streamlining processes while others focus on new customer acquisition, existing client satisfaction, technology upgrades and expanding staff skills. While each company has their individual challenges, there are also industry-wide

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How Tax Reform Affects Retirement Plans

The recently enacted Tax Cuts and Jobs Act (the Act) will impact many taxpayers. Here is what employers need to know about how the tax reform affects retirement plans. Plan Loans When an employee that has a plan loan leaves their employer the outstanding balance becomes a taxable distribution unless

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