Shawn P. Huxley
New IRS Guidelines: Employer Matching Contributions for Student Loan Payments Explained
AAFCPAs would like to make clients aware that the Internal Revenue Service has issued important interim guidance for employers offering retirement plans, which presents a new opportunity to enhance employee benefits. This guidance, detailed in Notice 2024-63, explains how employers may provide matching contributions to retirement plans based on employee student loan payments, as outlined […]
Seminar Recap: 2024 Employee Benefit Plan Risk Update
During AAFCPAs’ recent Nonprofit Seminar (April 2024), Shawn P. Huxley, CPA, MSA and Davide Villani, CPA, CGMA updated approximately 400 attendees on employee benefit plan risk. The full session was recorded and may be viewed as a webcast at your convenience.>> Secure Act 2.0 Overview Secure Act 2.0 is designed to increase access to retirement […]
Employee Benefit Plan Risk Update 2024
Employee Benefit Plan Risk Update | Webinar OnDemand Watch AAFCPAs’ employee benefit plan and assurance leaders for an engaging quickfire session on the Department of Labor’s 2024 agenda. Gain strategic insights on plan cybersecurity, SECURE 2.0 updates, and the proposed fiduciary advice rule. Leave with knowledge to better manage risk inherent for retirement plan fiduciaries […]
DOL Audit Quality Study Underscores the Need for Specialized EBP CPA
In November 2023, The U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) published its Audit Quality Study, which outlines work quality as performed by independent qualified public accountants—specifically in employee benefit plan financial statement audits covered under the Employee Retirement Income Security Act (ERISA) during its 2020 filing year. The administration focused on […]
IRS Sends Erroneous Late Filing Notices
AAFCPAs would like to make clients aware that 2022 Form 8955-SSA late filing notices were sent erroneously due to an IRS programming error. Specifically, IRS notices were sent stating Form 8955-SSA were either incomplete or not received on time when in fact they were filed prior to the due date of July 31, 2023. The […]
What Plan Sponsors Need to Know About SECURE 2.0
During AAFCPAs’ recent Nonprofit Seminar (April 2023), Employee Benefit Plan Practice leaders Davide Villani, CPA, CGMA and Shawn P. Huxley, CPA, MSA updated more than 400 attendees on SECURE 2.0 and how it affects plan sponsors. Building on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, SECURE 2.0 is designed to […]
IRS Audit Risk Areas for Nonprofit Retirement Plan Sponsors
During AAFCPAs’ recent Nonprofit Educational Seminar (April 2023), Employee Benefit Plan Practice leaders Davide Villani, CPA, CGMA and Shawn P. Huxley, CPA, MSA updated 400+ CFO and Executive Director attendees on the IRS’ 2023 strategic focus areas for small exempt organizations that sponsor retirement plans. AAFCPAs audits 180+ plans annually including 401(k) and 403(b) plans, […]
IRS Strategic Focus Area: Small Exempt Organizations that Sponsor Retirement Plans
As part of its 2023 strategic goals, the IRS plans to review retirement plans of small exempt organizations to determine whether the plan investments are properly administered, whether there are any party-in-interest transactions in the plan trust, and whether any participant loans violate Internal Revenue Code (IRC) Section 72(p). In this webcast, recorded April 2023 […]
Understanding Secure 2.0, and how it Affects Plan Sponsors
SECURE 2.0—so-called because it builds on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019—is legislation designed to substantially improve retirement savings accounts, including 401(k)s and 403(b)s, in the U.S. There’s a host of provisions in the bill and in this webcast, recorded April 2023 at AAFCPAs’ Nonprofit Educational Seminar. AAFCPAs’ Employee […]