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2017
Jul 12

How to Handle Hardship Withdrawals

Many 401(k) plans feature a hardship withdrawal option. Both the IRS and DOL maintain strict regulations around these provisions. This article discusses how, in early 2017, the IRS issued updated audit guidelines regarding requirements for hardship withdrawals and guidance for plan sponsors on how to remedy errors in the administration of these withdrawals.

2017
Jun 23

How to Become a Reseller in Illinois

There are any number of variances in reseller store setups, products sold and reasons why you may want to become a reseller. Maybe you want to supplement existing services you offer with related products. Perhaps you have an “in” on a good source or manufacturer for new merchandise that you are confident will sell well. Whatever your reason, our latest Cloud Services Group blog provides a bit of advice on what you need to know if you wish to become a reseller in Illinois.

2017
Jun 07

Company Health Check: Is Your Business Financially Fit?

How do you know your company is financially fit? We all talk it to death: profit, profit, profit. And for good reason—your profitability, and therefore your profit margin, is the single best measure of company health. However, it is a mistake to think that is all there is to it. This article outlines a handful of other metrics you should be using to gauge company health.

2017
Jun 06

Avoid Litigation with Attention to Common ‘Red Flags’

Any size retirement plan can run into serious trouble when sponsors are not careful. With some planning, however, a qualified retirement plan can avoid ERISA litigation. This article reviews some of the most common red flags leading to litigation and reminds plan sponsors of the importance of regularly reviewing fees and expenses.

2017
May 12

Is it Time for Your Company to Draft an Expense Policy?

Still don’t have a written expense policy? Do not worry, you are not alone. Many businesses and startups overlook this item at the beginning. Initially, it may seem unnecessary because there are not a lot of travel and expenses incurred and, if there are, they are mostly incurred by a select few people. However, as your business grows, you will notice more of your staff are either requesting reimbursements or you are having to add more employee credit cards to your account. Worse, you may begin to be concerned that your employees are over-spending on certain expenses. This article provides a few considerations you should take when drafting your company’s expense policy.

2017
May 05

Helping Soon-to-Be Retirees Understand RMD Rules

Employees who are approaching retirement age may be unaware of their required minimum distribution (RMD) obligations, which begin at age 70½ for both individual IRAs and 401(k)s. This article summarizes what they need to know for financial and tax-planning purposes.

2017
May 02

Communicating Your Financial Performance to Get Noticed By Investors

It is not easy communicating financial performance for investors. Inc. recently published an article titled, “Seven Horrifying Mistakes Founders Make in Their Pitches,” and that got me thinking about what the best approach is, specifically when communicating financial performance to investors. This article provides a few considerations business founders should take into account in order to best convey their business’ financial performance to investors.

2017
Apr 04

Be Prepared for Your Next — or First — QDRO

In the settlement of divorce cases, it is frequent to have the courts order that a portion of one spouse’s pension benefits be assigned to the other (soon to be former) spouse. However, it is up to the plan sponsor or administrator to determine whether the order qualifies as a Qualified Domestic Relations Order (QDRO). This article discusses common errors that plan sponsors encounter when qualifying a domestic relations order and how to handle the rejection of an order.

2017
Mar 24

Joining the ORBA Team

ORBA acquired Red Granite in 2016. This blog is meant to provide an overview of additional services and benefits that we can provide to our Red Granite clients who may not yet be familiar with our service model. Over the next few months, we will highlight both the traditional and unique services that we can provide to Red Granite clients and their owners and executives.

2017
Mar 10

Prioritize Your Tasks by ‘Eating Your Frogs’ First

“Eat Your Frogs” has become part of our team language over the past few years and, more importantly, it has become part of our culture. It is an idea and approach to help you stop procrastinating and prioritize your tasks appropriately. Our latest Cloud Services blog breaks down the meaning behind this saying in order to help you tackle the tasks that you have on your to-do plate.

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