Posts Tagged ‘Parker Elmore’

Close up of a person using a calculator with an hourglass measuring time

If you’d like to move to a 401(k) for 2018, you must notify employees by 11/2 As your business or that of your clients has grown, you may be thinking it’s time to upgrade your retirement plan from a SIMPLE-IRA to a 401(k) Plan. The issue is that you can’t switch mid-year as IRS rules…

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Pay attention to the language in your employee handbook! In summary judgement this week, US District Judge Lynn Adelman in Milwaukee dismissed a suit filed by General Electric (“GE”) retirees claiming the plaintiffs have “not shown that they were cognizably harmed by GE’s fiduciary conduct with respect to the plans.”. In 2012, GE eliminated its…

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Euler's Team van - Hood to Coast

When traveling for business (or pleasure), I see many things. However, as a mathematics major working as an Actuary, it was a pleasure to come across the Team Euler van from the Hood to Coast race here in Portland, OR. As one who recalls having to memorize Euler’s number to 15 decimal places in 11th…

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Prescription Drugs under Medicare Part D

So, you’re an employer who generously offers medical benefits to your retirees. If so, you’ve seen prescription drug prices skyrocket over the last several years – increasing by an average of 14% per year from 2011-2015 and continuing through today. Prescription drug spending by retirees enrolled in the Medicare Part D program has been growing…

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You’ve no doubt heard about the worldwide outbreak of “ransomware” from the WannaCry malware attack that crippled computers, networks and organizations. Hopefully your business hasn’t been impacted, but it provides a great reminder of the importance of maintaining your computer networks and keeping them up-to-date. This particular malware targeted legacy Microsoft systems such as Windows…

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Image of Bagg Hall building in Princeton, Massachusetts

On April 10, 2017, Parker Elmore met with Princeton, MA’s selectmen, advisory committee members, town treasurer, accountant, and Town Administrator, Nina Nazarian to discuss the Town’s OPEB obligations. Among the topics were GASB 45 and the upcoming need to implement GASB 75, OPEB Trusts (to fund or not to fund) and how to manage these long-term…

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You’re Invited To A Complimentary Lunch & Learn Seminar When: Wednesday, May 24, 2017 11:30 am – 1:30 pm Where: Sheraton Framingham Hotel & Conference Center 1657 Worcester Road, Framingham, MA 01707 (508) 270-1927 Please join us for a complimentary educational lunch on timely and trending OPEB topics (retiree healthcare liabilities) Complying with New GASB 75…

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GASB explains why they adopted GASB 75 and the reasoning behind certain choices As you’re likely aware by now, the Governmental Accounting Standards Board (“GASB”) issued GASB 75 “Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions” in June 2015. This Statement will replace GASB 45 for fiscal years beginning after June 15, 2017.  GASB…

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The safe harbor deadline for 2016 is October 1st so time is of the essence If you or your clients have been thinking it’s time to add a 401(k) Plan for yourself & your employees, the time is now. As you’re likely aware, the IRS offers a “Safe Harbor” feature that means if you are…

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