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ESOP Plans, Are You Exercising All of Your Fiduciary Responsibilities?

ERISA

By Michael Renzelman

More and more companies continue to move to an Employee Stock Ownership Plan (ESOP) structure. With each of these transactions comes new fiduciary responsibility. ... read more >

403(b), A Year Later

ERISA

By Michael Renzelman

Who would have thought that 403(b) plans would have created such a filing nightmare. These plans were established many years ago to provide the nonprofit industry sector a vehicle to establish a simple tool for its employees to save for their retirement on a pre-tax basis.... read more >

The dilemma of rising fuel and transportation costs

For years companies in the transportation industry have dealt with the dilemma of how to maintain profit margins in an economic time where rising fuel ... read more >

Who would have thought lease accounting would be so complicated?

Audit

By Michael Renzelman

For years, the number of accounting rules for capital-versus-operating leases has continued to grow and become more and more complex. How many times has a leasing company told you, “This lease qualifies as a capital lease,” only to have your auditors tell you it doesn’t?... read more >

What is Your Fiduciary Responsibility as a Plan Sponsor?

ERISA

By Michael Renzelman

As the sponsor of an employee benefit plan (which include 401(k), profit sharing and defined benefit plans) under the Employee Retirement Income Security Act (ERISA), you, the employer, have certain fiduciary responsibilities.  These fiduciary responsibilities are standards of conduct for those who manage an employee benefit plan and its assets and are set by ERISA.  ... read more >

SFAS 157 and Benefit Plans: Fair Value Measurements

Audit

By Michael Renzelman

In September 2006, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standard (SFAS) 157, “Fair Value Measurements.”   SFAS 157 established a consistent framework for measuring fair value under generally accepted accounting principles (GAAP).  Have you considered what your responsibilities under SFAS 157 are as a plan sponsor of an employee benefit plan?  Mike Renzelman provides an update on this topic.... read more >