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,
It’s that time of year again. Time for self-insured health plan sponsors to prepare to report and pay the annual Patient-Centered Outcomes Research Institute (PCORI) fee that was established by the ACA. Although originally established for plan years ending from October 1, 2012 through September 30, 2019, the fee has
On May 21, 2020, The U.S. Department of Labor (DOL) adopted a new, additional safe harbor for plan administrators to use electronic media, as a default, to furnish covered documents to participants and beneficiaries. Plan administrators will no longer have to send potentially large volumes of paper documents through the
Barnes Dennig is dedicated to helping you identify opportunities, options and strategies to minimize the impact of the COVID-19 Pandemic. Visit our COVID-19 Advisory Services Page here to learn more. On March 23, 2020, S.3548, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was introduced in the Senate.
Final legislation enacted December 20, 2019 included the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which consists the most updates to retirement legislation in over a decade. Many of the provisions aim to encourage more Americans to improve their retirement savings. And while many of the changes offer
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