Blog

401(k) Employee Benefit Plan Audit: An Overview

employee benefit plan audit

It can be hard to ensure your business remains compliant with every federal and state regulation. When it comes to your offered employee benefits, how do you know everything aligns with current guidelines? Has your business considered completing an employee benefits audit? In the content below, we define a 401(k) employee benefit plan audit, discuss the importance behind one, and explore when a business needs to have it completed. What Is a 401 (k) Employee Benefit Plan Audit? An employee

Read more

What is Business Benchmarking, and Why is it Important?

business benchmarking

Regardless of the current economic environment, business strategy should always take priority. While creating ambitious goals, organization can fall into the habit of focusing on internal growth without observing and learning from the surrounding business environment. However, with business benchmarking, you can avoid minimal and temporary growth. In the content below, we define business benchmarking and explore why it is important. Defining Business Benchmarking Before discussing the importance of benchmarking, we must introduce the term and its functions. Essentially, benchmarking

Read more

IRS Guidance Provides RMD Rollover Relief

IRS Guidance Provides RMD Rollover Relief

The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment to qualified individuals who take so-called “coronavirus-related distributions” (CRDs) from IRAs, 401(k) plans and certain other retirement plans.

Read more