New Participant Count Rules for When an Audit Is Needed
Understanding when an employee benefit plan requires an audit has always been an important aspect of compliance for plan sponsors. Recent updates to the Department of Labor’s (DOL) rules have changed how plan size is determined for audit purposes, impacting which plans are classified as “large” and therefore subject to an ann
Year-End Retirement Plan Check: Are Your 2025 Limits Up to Date?
As 2025 comes to a close, now is the perfect time for employers and plan sponsors to ensure their retirement plans are fully aligned with this year’s IRS limits. Each year, the IRS announces cost-of-living adjustments that affect contribution limits, compensation caps, and benefit thresholds. Making sure your plan has implemented these updates correctly
The Importance of Fiduciary Responsibilities of a Plan Administrator
Retirement plans provide valuable benefits to employees, but they also come with legal and ethical obligations for employers. Under the Employee Retirement Income Security Act of 1974 (ERISA), those who oversee retirement plans—known as fiduciaries—are held to the highest standards of care and accountability. Understanding and properly execu
SECURE 2.0: Key Provisions and Implementation Challenges
The SECURE 2.0 Act of 2022 introduced one of the most significant overhauls to retirement plan legislation in recent history. Designed to enhance retirement readiness and expand participation, the Act includes more than 90 provisions impacting employers, employees, and plan administrators. While many of these updates provide long-term benefits,
IRS releases 2024 retirement plan limitations
Cost-of-living adjustments to retirement plan limits for 2024 have been issued by the IRS in Notice 2023-75.