Employee Benefit Plan Audits Section
Specialized financial, operational and regulatory requirements present unique and complex challenges to CPAs who perform employee benefit plan audits. The Department of Labor is closely monitoring adherence to new regulations and reporting requirements and is issuing stiff fines for inadequate filings.It’s no wonder so many members rely on OSCPA’s Employee Benefit Plan Audits Section. Section members get the inside scoop on news and information they need to know to fulfill state and federal requirements.
-
Sep 06, 2011
Distribution options for defined contribution plans, more flexible safe harbor rules for financially distressed Section 401(k) plan sponsors and abandoned plans are among the final topics under regulatory review of the Obama administration.
Full story
-
Sep 06, 2011
Employers that sponsor tax code Section 403(b) plans will be able to voluntarily correct errors in their plan documents and fix failures to follow the terms of their plan documents after the IRS updates its voluntary correction program, according to an IRS official.
Full story
-
Sep 06, 2011
The Pension Benefit Guaranty Corporation said it will change the way it approaches regulations and wants to increase public involvement in the regulatory review process, according to agency's final regulatory review plan, released Aug. 23.
Full story
-
Sep 01, 2011
The economy has taken a toll on employee benefits offered by organizations, according to a recent Society for Human Resource Management (SHRM) survey report.
Full story
-
Sep 01, 2011
The IRS has become more adept at identifying retirement plans that may violate tax laws, according to a new government report.
Full story
-
Sep 01, 2011
Four out of 10 employers anticipate dedicating more time and resources to governing their employer-sponsored retirement plans over the next several years, according to a Towers Watson survey.
Full story
-
Sep 01, 2011
A new requirement that employers report the cost of their group health insurance to employees on Forms W-2 “imposes a substantial burden on employers,” the ERISA Industry Committee said in a comment letter to the IRS.
Full story
-
Sep 01, 2011
Practitioners can expect transitional guidance on electronic delivery of employee benefit plan information within the next couple of weeks while the Department of Labor continues to work on a policy update that has proved to be “a tough balancing act,” Phyllis C. Borzi, assistant secretary of labor for DOL's Employee Benefits Security Administration, said July 20 at a meeting of the ERISA Advisory Council.
Full story
-
Sep 01, 2011
The Department of Labor’s Employee Benefits Security Administration has issued a final that extends the applicability dates of the department’s interim final rule on fee disclosure by plan service providers to plan fiduciaries and its final rule on fee disclosure to plan participants.
Full story
-
Sep 01, 2011
A U.S. debt default or downgrade in credit rating would be “very disruptive and create a climate of uncertainty” in public and private pension funds, said Phyllis Borzi, assistant secretary of labor for the Department of Labor’s Employee Benefit’s Security Administration.
Full story