California’s retirement mandate has been in place for a while now. If you have 5 or more employees, you’re legally required to offer a retirement plan. Many businesses signed up for CalSavers simply to stay compliant—and that worked as a short-term solution. But here’s the challenge: CalSavers is the starting line, not the finish line.... The post Still Using CalSavers for Your 401(k) Plan? Here’s Why It’s Time to Reconsider appeared first on LSL CPAs.| LSL CPAs
As the calendar year wraps up, now’s the time for 401(k) plan sponsors to double-check that everything is in order—from contributions to compliance notices. Whether you’re a business owner or part of the HR team, this checklist outlines key responsibilities and who in your organization should be handling them. 1. Review Employee Deferrals and Employer... The post Year-End Checklist for 401(k) Plan Sponsors: What to Review Before December 31 appeared first on LSL CPAs.| LSL CPAs
The SECURE 2.0 Act of 2022 was enacted to enhance retirement savings and financial security. With more than 90 provisions affecting a wide range of retirement plans, the law is being implemented in phases over several years, from 2023 through 2033. While some key changes took effect in 2023 and 2024, more significant updates are... The post Top 3 New 401(k) Plan Audit Rules for 2025 appeared first on LSL CPAs.| LSL CPAs