Year-End Financial Closing Procedures

A timely reminder for those involved in the year-end closing process begins with establishing and documenting a process which includes overall timing, rationale, and format of the annual financial statement closing process.  This process should be reviewed annually in conjunction with authoritative guidance and regulations affecting the organization so that any procedures or accounting policies …

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401(k) and 403(b) Plans to Disclose Fees Charged to Participants

If you’re like most people, it’s not easy to determine exactly how much you’re being charged for your employee benefit plan fees.  Some expenses are disclosed on your statement, but some are not.  Instead, they’re deducted from earnings, and only the net earnings amount is shown.  New rules issued by the DOL last week will …

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