The Board Of Directors Of Easter Seals North Ga Inc.

In the planning the financial manager identified the steps that must be taken to fulfill the agency’s objectives

In the Sarbanes-Oxley Act of 2002, the audit committee is responsible for adequate supervision and reporting and for responding to:

IX. Monitor financial market trends to ensure that plans are effective, and to identify any necessary

The Employee Retirement Income Security Act (ERISA) is a piece of legislation enacted y the US Congress in 1974, after decades of similar legislation had been proposed and some of which had been enacted, but primarily as a means of addressing gaps in contemporary law and policy regarding employment pensions and retirement accounts (US Department of Labor, 2012). This legislation spells out certain requirements regarding information that retirement plan administrators must provide the participants and beneficiaries so that they can make pertinent decisions or take steps to safeguard their retirement savings, and also places certain guidelines and limitations on the conduct of managers of pension and retirement plans (USDOL, 2012). Government reporting standards and measures to ensure the protection of and proper access to retirement funds are also part of the legislation (USDOL, 2012).

Members of the Society appointed a thirty-member Board of Managers. Meeting weekly as the policy making section, an Acting Committee, consisting initially of five and later seven Board members was also implemented. Appointed by the Acting

What is ERISA? ERISA stands for Employee Retirement Income Security Act. ERISA regulates the establishment and implementation of discretionary benefits practices. Since its enactment in 1974, ERISA has been amended to meet the changing retirement and health care needs

The 401(k) plan is usually at the back of a plan sponsor’s mind. It doesn’t renew annually, and it never fights for attention like health insurance and business insurance renewals do. However, it’s time to bring that afterthought to the forefront. With the Department of Labor’s (DOL) Fiduciary Rule, a litany of class action lawsuits and the fact that 65 percent of DOL audits in 2014 resulted in plan sponsor fines; there is a certain level of responsibility expected of plan sponsors. The DOL Fiduciary Rule is the byproduct of many of these class action suits, years of haggling with Wall Street to close loopholes that have existed since 1940, and the Obama administration’s desire to bring objective advice to plan sponsors and participants alike. Over the next year, before the regulation comes into effect in April 2017, plan sponsors have important decisions to make, and it’s vital to understand what options there are moving forward.

The fiduciary relationship of the Trustee is to the protection of the assets at any cost. The Trustee must protect and must diligently invest under the prudent man rules, he cannot ever deal for himself.

Question 3: You are to allocate an asset retirement cost (initiated by an asset retirement obligation). What guidance is given over the manner in which the asset retirement cost should be allocated to expense?

4. Review –The proposed plan is then reviewed and if they find it inappropriate, it is then sent to propose again

6. Committee Membership. The committee membership shall consist of senior GSA employees with substantial experience in program analysis and management, except for subject matter experts. The current list of committee members can be obtained by contacting the (identify appropriate GSA official and office) at 202-xxx-xxxx.

What are the “moving parts” in your Plan? You may not know the components of a 401(k) plan, or, at this point, maybe you are unable to identify them. The terminology in our industry is often misunderstood and misapplied. Jargon like ‘plan administrator’, ‘trustee’, ‘custodian’, ‘recordkeeper’, and ‘TPA’ are often used interchangeably and communication is confusing, with some of your service providers using different terms to refer to each other. Providers that offer 401(k) services in a "bundled" product to businesses may function in multiple roles or even all the roles. This only adds complexity to an already confusing structure that lacks transparency. Therefore, we try to clear up the confusion by

Each employer 's retirement benefits are different. Employees need to know exactly what benefits their employer offers and what each type of benefit does for the employee. Employees that understand defined contribution plans, defined benefit plans, 401(k), 403(b), the fiduciary requirements imposed by ERISA, and non-discrimination rules imposed by ERISA will help employees make good decisions regarding their retirement. Each plans has its good points and its bad points and employees need to know what there options are and which will benefit them. Not each plan is offered by employers, but knowing the rules and laws that they have to follow on the plans the do offer will assist the employee in learning how to save for retirement.

There will be a number of documents that will need to be developed these will include;

The first question considers whether there have been any breaches concerning the investment of the trust and, if so to consider the consequences. As mentioned the will contained no further provisions, therefore there are no express controls in the trust instrument with reference to investment so the following advice is on the basis that the trustees’ powers are statutory. Furthermore we are not told of any provision purporting to exclude liability of the trustees.