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Audit Requirements for Defined Contribution Plans are Changing

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There is some exciting news, especially for smaller plan sponsors of defined contribution plans. The Department of Labor (DOL) has revised the Form 5500 and instructions for 2023, bringing about a substantial change in the criteria used to determine the requirement for an audit. Updates to Participant Count Methodology  Employee benefit plans that filed as a large […]

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5 Steps to Take When A Cyberattack Strikes

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Since the COVID-19 pandemic, there’s been an enormous uptick in the number of cyberattacks and the amount of damage they cause. This damage, which has disproportionately affected small and mid-sized businesses is now a top-of-mind concern for any organization that values its long-term stability and profitability. While there’s been a lot of advice out on the

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Graphic with text how to manage employees in family business

How to Manage Employees in a Family-Owned Business

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Family-owned businesses account for 59% of the United States’ private sector workforce, employing more than 83 million people, according to familybusiness.org. Suffice it to say, family firms make up a significant portion of the economy, with businesses large and small sharing common challenges with managing the employees that drive business growth. While family businesses, overall,

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