The Setting Every Community Up for Retirement Enhancement (SECURE) Act was introduced in 2019 and has already had a direct impact on 401(k) and employee benefit plans. SECURE Act Version 2.0 (the Act) builds on the original legislation and became effective for 401(k) and employee benefit plans on January 1, 2023. […]
DOL Cybersecurity Guidance for 401(k) and Employee Benefit Plans The U.S. Department of Labor recently announced new guidance for plan sponsors, plan fiduciaries, record keepers, and plan participants on best practices for maintaining cybersecurity for 401(k) and employee benefit plans. The guidance is directed at plan sponsors and fiduciaries regulated by […]
One of the most common errors found during an audit of a 401(k) or employee benefit plan is the failure to timely remit employee contributions to the retirement plan. Management of the 401(k) or employee benefit plan needs to be mindful of the Department of Labor’s (DOL) rules for remittance of […]
Kfi Foundation and There With Care The Kfi Team delivered groceries today to a family with a child that has terminal brain cancer. After picking up the groceries at There With Care, the Kfi Foundation threw in a few extra goodies to add to our delivery to hopefully make life a […]
If you previously had a DOL limited-scope audit performed on your 401(k) or employee benefit plan, you should be expecting some changes to your 2021 plan year audit. The Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) issued a new Statement on Auditing Standards for auditors who […]
Preparing your company and plan for its first 401(k) audit can be a tedious task, but with the right knowledge and tools you can help prepare for a successful and smooth audit.