• Accounting update from the NAIC Summer 2014 meeting

    The National Association of Insurance Commissioners (NAIC) 2014 Summer National Meeting was held in Louisville, KY. A number of issues and statutory accounting changes were addressed over the course of the meeting. Highlights from some of the working group meetings are summarized below.
  • Common IRS document requests in 401(k) plan audits

    The IRS has recently increased its audits of employer 401(k) plans. Rather than wait for an audit, plan administrators should proactively consider potential issues and take any necessary corrective measures. The following is a brief rundown of what the IRS will request at the outset of an audit, as well as a non-comprehensive list of issues commonly scrutinized by the IRS during a 401(k) plan audit.