Legacy Attends National Conference on Employee Benefit Plans
We place high value in the ongoing education of our partners and professionals so that we can continue to provide superior service. In order to ensure that we are up-to-date on all of the issues and changes affecting the industry, our personnel regularly attend conferences and training seminars at state and national levels.
Annually we attend the National Conference on Employee Benefit Plans, a premiere conference for accountants who serve benefit plan clients, presented by the American Institute of Certified Public Accountants (AICPA). Partners Eileen Brassil, Bob Cann, and Tom Theis represented Legacy this year at the conference in May.
The conference offered the opportunity to hear about significant changes and current issues directly from industry experts and authorities from the AICPA, Department of Labor, and Internal Revenue Service, all of whom delivered updates on the latest rules, regulations, and implementation guidelines. Question and answer sessions with regulatory officials and industry experts provided invaluable insight.
Hot topics at this year's conference included discussions on the impact of the state of the economy on benefit plans; legislative developments affecting pension funding, COBRA payments, health care reform, and financial services; various accounting updates affecting the required disclosures of a benefit plan, especially with regard to investments and their respective fair values; and numerous regulatory changes including the requirement for 403(b) plans to file Form 5500, electronic filing of Form 5500, and changes to Form 5500 Schedule C.
After hearing from the experts at the three-day National Conference, Legacy shared the information during full-day in-house training seminars with professionals from all three offices. Frequent internal updates on economic, accounting, auditing, and regulatory developments equip our professionals with a robust understanding of the environment in which our benefit plan clients operate, enabling us to provide exceptional client support.