By now you’ve no doubt heard that a federal judge has delayed the Department of Labor pending rule on overtime pay. More than 4 million private-sector workers would have been eligible for mandatory extra pay or time off and job classifications would have changed from salary to hourly in many more cases. Many employers were just…
A common question from our clients: “Can I let my employees buy their own health insurance and reimburse them?” Before 2014 the answer to this question was “yes,” using what is known as a Section 105 plan. These plans allowed employers to reimburse employees on a pre-tax basis. However, under IRS rules issued in September…
Although we have seen incredible advances in technology and automation, retirement plan mistakes seem as frequent today as they were years ago. As auditors, our purpose is to ensure that retirement plans are run properly, in accordance with the plan document. Here are the top three errors we find when conducting our audits: What counts…