Retirement Plans

Sponsors of 401(k) plans typically don’t provide enough information about the fees charged by mutual funds and other investment products, and Congress should require them to disclose investment and recordkeeping fees that participants bear, according to a GAO report.

The study recommended that Congress amend the Employee Retirement Income Security Act (ERISA) to prohibit plan sponsors from providing the information “in a piecemeal fashion” that makes direct comparisons difficult. Congress also should amend ERISA to require 401(k) service providers to reveal any compensation they receive from other providers, the GAO proposed. In addition, the Department of Labor should require plan sponsors to report summaries of fees paid by participants out of plan assets, the GAO said. The full report is available at .


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.