Many employers are giving employees greater flexibility to work alternative schedules, including hybrid arrangements (i.e., some in-person and some remote work) or continuing to work entirely remotely. To meet the moment and help with retention and recruiting, employers are reexamining their employee benefits, focusing on employees’ immediate needs other than cash compensation. Based on inquiries…
Triaging Data Breaches By Mark Antali, BDO A data breach is one of the worst things that can happen to nonprofit organizations, their clients, donors and volunteers. When malicious perpetrators gain unauthorized access to financial information or other personal data, they can steal identities, exfiltrate intellectual property and can cause reputational damages that will affect…
Dear Friends, As you may know, 2021 marks the 80th Anniversary of the GJC legacy! One of the ways we are celebrating this year is by donating to at least 80 nonprofit organizations. Our core remains the same today as it was when we started in 1941, which is to support our community and enrich…
The IRS recently updated its frequently asked questions (FAQs) on the Employee Retention Credit (ERC) and payroll tax deferrals under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136). These provisions encourage businesses to keep employees on their payroll during the COVID-19 global pandemic. Although the FAQs cannot be relied upon as legal…
The coronavirus pandemic has forced many employers to implement some form of workforce reduction to continue operating. While furloughs and layoffs have a significant and immediate impact on a company’s operations, plan sponsors also need to understand the longer-term effects workforce reductions have on participants’ benefits and retirement accounts. Over the next several months, employers…
Dear Clients and Friends, Welcome to our Spring/Summer issue of the GJC Advisor, Employee Benefit Plans edition. As we all continue to deal with the impact of the novel coronavirus COVID-19 and this rapidly-changing situation, there continues to to be new developments. Rest assured that GJC will continue to keep you updated with how these developments may…