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This comment is among the most common findings cited in ERISA audits each year. While meeting minutes are often viewed simply as a record of plan changes or updates, their importance goes far beyond documentation. Properly maintained meeting minutes provide clear evidence that a plan sponsor is fulfilling its fiduciary responsibilities by reviewing key plan…
Being a retirement plan sponsor means staying ahead of numerous annual compliance deadlines. This is essential to avoid penalties and ensure participants receive timely and accurate information. This 2026 calendar outlines key ERISA deadlines for calendar-year-end contributions and defined benefit plans, including required filings, participant notices, funding obligations and operational tasks. All dates reflect statutory…
On February 4, 2026, lawmakers introduced bipartisan legislation that would simplify the Form 5500 reporting process for employer sponsored retirement plans governed by ERISA. The proposed Form 5500 Filing Simplification Act is intended to reduce administrative complexity while maintaining the transparency and regulatory oversight relied upon by plan participants and federal agencies. Breaking Down the Latest Proposed…
Withum is proud to announce that Accounting Today has once again named Jim Bourke, Managing Director of Advisory Services, on their annual Top 100 Influential People in Accounting list. The Top 100 are chosen for their outstanding contributions to the profession, including their leadership, mentorship and how they use their voice to promote and advocate…
When a plan sponsor hires a third-party administrator (TPA) or insurance company to administer its self-insured health plan, it’s easy to assume overpayment recoveries are being handled. But that assumption can be costly. One area where plan sponsors routinely fall short in their oversight responsibilities is in monitoring overpayment recovery efforts, a critical component of…
In 2024, the Financial Accounting Standards Board (the “FASB”) released updated guidance for the treatment of profits interest awards as part of Accounting Standards Update (“ASU”) 2024-01. That update is now effective for public business entities for annual and interim reporting periods beginning after December 15, 2024. The new guidance will be effective for all…
