Employee Benefit Plan Audits
IRS Provides Guidance on Safe Harbor Plans
AAFCPAs would like to make clients aware that the Internal Revenue Service (IRS) recently issued Notice 2020-86 addressing certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) affecting safe harbor plans, including safe harbor 401(k) plans and certain 403(b) plans. A safe harbor 401(k) plan is similar to […]
Retirement Plan Provisions of the CARES Act
AAFCPAs would like to make clients aware of retirement plans provisions included in the Coronavirus Aid, Relief and Economic Stimulus (CARES) Act legislation. These provisions include expanded and penalty-free withdrawal rights, expanded loan rights, extended rights to repay loans and withdrawals, and a deferral of mandatory distributions. Coronavirus-Related Hardship Distributions The 10% early distribution penalty […]
Employee Benefit Plan Health Check
Listen to Podcasts: Performing a regular and independent assessment or “health check” of your retirement plan can ensure your organization’s plan remains properly designed for your employee population and delivering the best possible benefit with the least amount of risk & cost. Davide Villani, leader of AAFCPAs’ specialized Employee Benefit Plan Audit & Consulting Practice, […]
Educational Podcast: Unraveling the Mysteries of Employee Benefit Plan Costs
Listen to Podcast Click here to listen to podcast or use the above media player. Clients often ask “How much does my employee benefit plan cost, and how do costs relate to compliance and risks?” Plan costs are often buried and difficult for plan sponsors to truly figure out. In order to meet their fiduciary […]
Proposed Update to Auditing Standards for Employee Benefit Plans
In an effort to improve the communicative value and relevance of the auditor’s report, the AICPA Auditing Standards Board (ASB) recently released an exposure draft of a proposed Statement on Auditing Standards (SAS), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. The proposed SAS would apply to audits […]
Panel Provides Guidance for Employee Benefit Plan Sponsors and Other Fiduciaries
AAFCPAs Davide Villani, CPA, CGMA, Managing Director, Employee Benefit Plan Audits, will join a panel of IRS, DOL and ERISA professionals providing guidance for plan sponsors and other fiduciaries on 401(k) and 403(b) retirement plan compliance. This session will help employers manage their fiduciary responsibilities through a better understanding of regulations and common risk areas. […]
Davide Villani Promoted to Managing Director
AAFCPAs is pleased to announce that Davide Villani, CPA, CGMA has been promoted to Managing Director in recognition of his technical leadership in the employee benefit plan practice and his service excellence to the firm’s clients. Many of you know and have experienced Dave’s significant contributions to AAF clients since joining the firm in 2002. […]
DOL Urges Businesses to Select a Qualified Benefit Plan Auditor, Such As AAFCPAs
The US Department of Labor reminds businesses who filed a Form 5500 with audited financial statements of the importance of selecting a qualified CPA firm with expertise in ERISA standards. This email is in response to results published in a recent DOL audit quality study, which found “serious problems with nearly 40% of employee benefit […]
AAFCPAs Manager, Davide Villani, CPA named co-chair of MSCPA ERISA Committee
AAFCPAs is excited to announce that Davide Villani, CPA has been nominated to serve as co-chair of the MSCPA ERISA Accounting & Auditing Committee. The ERISA Accounting & Auditing Committee is a forum for ERISA professionals to share best practices relating to improving the overall quality of ERISA/DOL audits including: 401K, 403B and Health & […]