On December 29, 2022, Congress passed the long-awaited SECURE 2.0 Act of 2022 (SECURE 2.0 or the Act). While SECURE 2.0 aims to make it easier for Americans to save and encourages small businesses to adopt retirement plans, it will also require plan sponsors to take...
After almost a decade of pressure from the Department of Labor (DOL) requesting more transparent reporting and improved quality for ERISA plan audits, the Auditing Standards Board issued Statement on Auditing Standards No. 136, Forming an Opinion and Reporting on...
Did you know? The American Institute of Certified Public Accountants (AICPA) issued several new auditing standards a few years ago, which are effective for the December 31, 2021 audits. Many of the standards affect what auditors do and how we document our work, so you...
Companies that offer retirement plans know how hard it is to incentivize people to take complete advantage of this benefit. The hesitancy could be due to a lack of financial education regarding the power of compound saving or the lack of sophistication regarding the...
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) became law on March 27, 2020. The CARES Act provides financial relief to individuals and businesses impacted by the COVID-19 pandemic and contains several provisions that affect retirement plans. The...
