Many companies faced turbulent times during 2020 due to the unexpected impact on their businesses from COVID-19. As a result, many companies were forced to temporarily or permanently layoff or furlough employees during the year. Typically, plan sponsors would assess the facts and circumstances of significant turnover to determine if a partial plan termination has […]
Whether your retirement plan has previously been audited or this is the first year your plan is requiring an audit, there are some helpful items your team can pull together prior to the plan audit: Were there any changes to the Plan or the Company during the year that should be communicated to your independent […]
This year, the Caron & Bletzer team took to our community to help spread a bit of holiday cheer to local families. Our enthusiastic team collected food and monetary donations to contribute to the Kingston, NH food bank. In addition, we donated Market Basket gift cards to local families so they could enjoy a Thanksgiving […]
During 2020, there have been immediate and upcoming changes for the retirement plan industry that have affected and will continue to affect the plan operations. In addition to these changes, there are routine matters that Plan Sponsors will need to address before year end. Below are some things to consider as the year winds down: […]
As plan sponsors are wrapping up their employee benefit plan filings and finalizing plan audits with their independent auditors, there are some things that should be considered related to subsequent event disclosures: Did the plan sponsor encounter significant layoffs, terminations, etc. that may result in a partial plan termination? Has there been a change in […]
The AICPA has made the decision to delay the effective date of SAS 136 (Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA) to be effective for periods ending on or after December 15, 2021. However, early implementation of this standard is permitted. The new SAS results in changes […]
ERISA Benefit Plans of New England 6,080 ERISA benefit plans in the New England region plans obtained audits. Caron & Bletzer led the pack with 377 audited plans, and PwC was not far behind with 291 plans. Source: http://www.auditanalytics.com/blog/leading-erisa-benefit-plan-auditors-in-california-texas-and-new-england/
It is with great pleasure that we announce the promotion of Marcia Baker, CPA to Principal effective January 1, 2017. Since joining Caron & Bletzer, PLLC in 2006, she has focused her time on complex ERISA engagements including but not limited to employee stock ownership plan audits, 11-K filings and medical plan audits. Marcia […]
Last Thursday, the IRS announced new statutory limits for 2017. The most important changes applicable to retirement plans are outlined below. The most visible limits to the public, those that affect the amount participants can contribute to a plan, remain unchanged. The §402(g) elective deferral (employee contribution) limit and the “catch-up” contribution limit both remain […]
Last week, the U.S. Department of Labor (the “DOL”) issued a damning report on its latest study of the quality of required audits of employee benefit plans. The report, titled “Assessing the Quality of Employee Benefit Plan Audits” can be accessed at the Department’s website, at www.dol.gov/ebsa/pdf/2014AuditReport.pdf. The DOL reviewed 400 audits out of the […]
