As a follow-up to the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed in 2019, Congress passed the SECURE 2.0 Act in December 2022, which aimed to provide even more retirement options for American workers. The latest legisla...

If you’ve been in business for a while, you’ve probably considered many different employee benefits. One option that might have crossed your desk is an employee stock ownership plan (ESOP).  Strictly defined, an ESOP is considered a retirement...

If you offer a benefit plan to your employees, you may be required to have the plan audited. The Employee Retirement Income Security Act of 1974 (ERISA) sets this requirement. But, how do you know when your company needs an employee benefit plan audi...

Defined-benefit retirement plans, commonly referred to as pensions, aren’t as popular as they used to be — and for good reason. Many such plans are underfunded and in danger of failure. The Pension Benefit Guaranty Corporation (PBGC), a federal a...

Many popular retirement and health care plans must comply with the Employee Retirement Income Security Act (ERISA). Employers that sponsor one could one day receive a request from the U.S. Department of Labor (DOL) for plan-related documents. Such a ...

The U.S. Office of Management and Budget (OMB) released the 2022 OMB Compliance Supplement (Supplement) in May 2022, which will impact federal single audits beginning with fiscal years ending June 30, 2022. Doeren Mayhew’s dedicated Governmental an...

Over recent years, the Department of Labor (DOL) has expressed concerns over the quality of Employee Retirement Income Security Act of 1974 (ERISA) employee benefit plan audits, specifically those being conducted as limited-scope audits. As a result,...

The U.S. Department of Labor (DOL) recently released compliance assistance for 401(k) plan fiduciaries, warning them against adding a cryptocurrency option to its plan investment menu. According to the release, the DOL’s Employee Benefits Security ...