Take Control of Your Internal Control!

by | Feb 4, 2025 | article

A fifth client this month asked me to review their internal controls. Usually, they make the same mistakes: Wrong compensation used to calculate payroll deductions and match Failure to mail out participant notices Deferral Elections made on RK platform are not updated...

Catch Up with the Catch-Up Contribution!

by | Jan 7, 2025 | article

I sat at my monthly SHRM chapter meeting with a group of HR managers from various businesses. We enjoyed some pre-meeting small talk until Linda, one of the HR managers, leaned in with a question that piqued my interest. “Has anyone heard about this new Catch-Up...

Holiday Bonuses and Win/Win Strategies

by | Dec 10, 2024 | article

Margaret, the president of her company came into my office one late November morning feeling great! “We had another good year and I was going to write holiday bonus checks for everyone. This year we’ll be giving out bonuses equal to 7% of our employees’ annual pay....

Sometimes It’s Illegal to Spend Your Own Money!

by | Nov 5, 2024 | article

Hector asked me if it would be possible to make an early withdrawal from his retirement plan. He’s a small consultant and though he does well overall, his income tends to “roller-coaster” as he works on one project and then sets up a new one. “I’ve been saving for...