BREAKING NEWS

Announcing our new Cyber Technology Group

We are excited to announce our new practice area, BMF Cyber Technology Group. This new service line will offer a package of high-level IT, network and cybersecurity solutions, and a unique component of IT executive coaching.

Articles & Publications

Disaster Planning: Plan for the Possible

  “One cannot plan for the unexpected.” – Aaron Klug   According to the Institute for Business and Home Safety, an estimated 25% of businesses don’t reopen following a major disaster. The Federal Emergency Management Association (FEMA) paints an. Read More >>

All Posts

Managing Cybersecurity Risks: 5 Steps to Protect Your Employee Benefit Plan NOW

News stories of large corporations becoming victims of cyber attacks have become ubiquitous. And while it may seem that large corporations are easy targets because of their size and significant data, employee benefit plans can just as easily be. Read More >>

Internal Control Essentials for Retirement Plans

When was the last time you closely examined your retirement plan’s internal controls? If the answer is “not sure” or “a while ago,” then there is no time like the present to conduct a thorough assessment on your internal. Read More >>

ERISA Compliance Year-End Checklist

Preparing a year-end checklist for your qualified retirement plan is a good way to help ensure your plan remains compliant with ERISA regulations throughout the year. A checklist can also serve as a valuable reminder of upcoming deadlines for. Read More >>

401(k) Plan Loans: What Are Employees’ Options When They Depart?

Employees who have outstanding 401(k) plan loans when they leave their job are sometimes faced with the difficult quandary of needing to repay the loan in full within 60 days of termination of employment. If the loan isn’t repaid. Read More >>

Your Company and Your Plan Participants – At Risk for Identity Theft?

News of commercial database hackings involving millions of people’s personal information seems commonplace. While many of these stories focus on bank and credit card accounts, many plan sponsors and participants don’t realize that 401(k) plan assets may be at. Read More >>

Why Conducting an Annual Benefit Plan Review is Critical

The U.S. Department of Labor (DOL) generally requires large employee benefit plans to have a yearly audit conducted. While the main purpose of the audit is to provide reasonable assurance that the plan’s financial statements are presented fairly in. Read More >>

Benefit Plan Insights: Operational Compliance – Who’s in Control of the Controls?

In recent years, regulators have intensified their focus on retirement plan controls. Given this scrutiny, it’s critical that the proper procedures and controls are in place for your qualified plan. Operational compliance controls are an area of focus for. Read More >>

Monitoring Service Provider Performance: The Role of Type II SOC 1 Reports

It’s not uncommon for sponsors of employee benefit plans to outsource key functions like accounting and recordkeeping to third-party service providers. But this doesn’t absolve plan sponsors the responsibility for monitoring these key functions adequately or the overall financial. Read More >>

Payroll Controls: Is Your Data Accurate and Secure?

Data accuracy is crucial when managing employee benefit and retirement plans. Errors and mistakes can lead to inaccurate deferral amounts, delayed enrollment dates and incorrect calculation of eligible compensation, to name just a few problems. Much of the data. Read More >>

Benefit Plan Insights: 5 Common ERISA Red Flags

  Any size retirement plan can run into serious trouble when sponsors aren’t careful. With some reasonable planning, your qualified retirement plan doesn’t have to be the target of the Employee Retirement Income Security Act (ERISA) litigation. Below we. Read More >>