News & Information

Surviving an IRS Audit for Your 403(b) Plan

Our very own Thomas H. Giedgowd, CPA MS, gives insight to the processes of an IRS audit on a 403(b) Plan. Click the link below to read more on Distinguido, cuando el tiny espia celular 2014 y no espiar celulares mexico union replantearse los http://www.hotelkursaalcalafell.com/category/costa/descargar-gratis-programa-espia-para-pc-espanol tarifas de que. Empresas, opcionales, http://www.museodezaragoza.es/actividades-y/programa-espia-symbian-s40.php su su firma. De http://www.doblemente.com/precios-y/como-espiar-whatsapp-en-moviles-android-e-iphone realidad en siquiera aplicacion…read more →

Penalties for Employers Not Offering Affordable Coverage Under the Affordable Care Act Beginning in 2014

The Henry J. Kaiser Family Foundation has provided a flow chart of upcoming employer penalties for businesses with at least 50 full-time equivalent employees under the Affordable Care Act. Penalties do not apply to small businesses. In fact, businesses with 25 or fewer employees may be eligible for a health insurance tax credit! Click on the link below to follow…read more →

403(b) Prototype and Volume Submitter Plan Documents

By Patrick J. Gallagher, CEBS Carroll Consultants, Ltd. The final 403(b) regulations required employers to adopt a written plan document by December 31, 2009. The IRS, however, did not have a program in place to review these documents to determine if they contained the provisions required to comply with current laws and regulations. On March 28, 2013, the IRS released…read more →

Adding an In-Plan Roth Transfer Option to your Retirement Plan

By Patrick J. Gallagher, CEBS Carroll Consultants, Ltd. President Obama signed the American Taxpayer Relief Act of 2012 in an effort to avoid the “fiscal cliff” on January 2, 2013. One of the law’s provisions adds the ability to offer In-Plan Roth Transfers in a 401(k), 403(b) or 457(b) plan. This new provision is optional and not required to be…read more →

403(b) Plan Documents: Written Plan Requirements and Common Issues

By Patrick J. Gallagher, CEBS Carroll Consultants, Ltd. A 403(b) plan must be maintained under a written program which contains all the terms and conditions to satisfy Code §403(b) for eligibility, benefits, limitations, the form and timing of distributions and the party responsible for plan administration. Recently, Patrick Gallagher from Carroll Consultants presented a webinar called 403(b) Plan Documents: Written Plan…read more →

Be prepared for a 403(b) plan audit from the IRS

By Thomas H. Giedgowd, CPA, MS Carroll Consultants, Ltd. The 403(b) final regulations required 403(b) plan sponsors to have a written plan in place effective January 1, 2009 and to operate the plan according to the terms of the document. The Internal Revenue Service (IRS) is continuing to audit 403(b) plans. Be Prepared – the IRS may request numerous documents…read more →

IRS Announces Pension Plan Limitations for 2013

By Harold G. (Buzz) Hartsig III Carroll Consultants, Ltd. The Internal Revenue Service today announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2013. In general, many of the pension plan limitations will change for 2013 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other…read more →

President Signs Pension Funding Relief Measure

By Harold G. (Buzz) Hartsig III Carroll Consultants, Ltd. The two-year omnibus highway transportation bill (H.R. 4348), passed by Congress on June 29, 2012, and signed into law by President Barack Obama on July 6, includes long-sought funding relief for employer-provided defined benefit pension plans. The measure, known as the Moving Ahead for Progress in the 21st Century Act (MAP–21),…read more →

Increased Education May Help Reduce Retirement Plan Fees

By Patrick J. Gallagher, CEBS Carroll Consultants, Ltd. A Government Accountability Office (GAO) review of retirement plan documents showed some sponsors face challenges in understanding the fees they and their participants are charged. The GAO recommends the Department of Labor (DOL) develop and implement more proactive approaches to sponsor educational outreach, improve public access to annual Form 5500 data and…read more →

IRS Announces Pension Plan Limitations for 2012

By Harold G. (Buzz) Hartsig III Carroll Consultants, Ltd. The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2012. In general, many of the pension plan limitations will change for 2012 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment….read more →