Insights: Newsletter

  Bright Business Insights For Owners This Spring 2023 It’s hard to believe that we are already halfway through 2023. I hope that the start to your year has been positive and that things continue to go well. Businesses have faced massive challenges and have undergone an incredible amount of change over the past few … Continued

Learn about the importance of education Plan Participants, because the more they know, the better.

The effective date of enactment for SECURE 2.0 Act of 2022. Details on effective for Plan years beginning on or after 1/1/23, 1/1/24, 1/1/25 for SECURE 2.0. Year-End Data Requests. Action items for SECURE 2.0 coming soon. Upcoming Deadlines for Calendar-Year Plans.

As you gear up for business in 2023, take a look at recent history to understand the changes and challenges businesses have faced: Inflation, supply chain interruptions and delays, rising interest rates, the threat of recession, and global instability. So how do we respond to the unknowns and prepare ourselves to be successful in a challenging environment? We wanted to highlight key business trends to consider for your business model.

In this edition, we discuss the new IRS Cost of Living Adjustments for 2023, proper plan record storage, new plan year checklist, deadline extension for the CARES Act and SECURE Act Amendments, and important 2022 deadlines.

Review the Summer 2022 Edition of Benefit Insights to learn more about the important 2022 deadlines and Form 5500 insights.

Reflecting on our previous issue of Plain & Simple, a lot of the issues people were dealing with last Fall still remain true, including labor shortages and supply chain issues. Only now we’ve also added inflation that hasn’t been seen in years, rising fuel and energy prices, and general uncertainty around global security and the global economy.