Skip to content

Employee Benefits

Are You Ready to E-file Benefit Information Returns?

Are You Ready to E-file Benefit Information Returns?

Starting January 1 of this year, e-filing requirements under the Taxpayer First Act take effect. Now, employers that file 10 or more returns in total during a calendar year must do so electronically. This includes Affordable Care Act (ACA) filings. Failing to comply can result in significant financial penalties. Under

Read More »
Benefit Limits for 2024

Benefit Limits for 2024

Last updated on November 17th, 20232024 limits for certain employer sponsored retirement and welfare plans, as well as the Social Security Wage Base, were released earlier this month. Payroll and plan administration systems should be updated to reflect the new limits. In addition, plan sponsors should communicate the 2024 limits

Read More »
SECURE 2.0: Form 5500 Updates

SECURE 2.0: Form 5500 Updates

Earlier this year, the Department of Labor (DOL), Internal Revenue Service (IRS) and Pension Benefit Guaranty Corporation (PBGC) issued final rules on Form 5500 and Form 5500 Short Form (SF) changes starting for 2023 retirement plan year reports. Changes are part of the final phase of Setting Every Community Up

Read More »
ERISA: What to Know & Do as a Benefit Plan Fiduciary

ERISA: What to Know & Do as a Benefit Plan Fiduciary

Last updated on May 30th, 2023If you are a private employer that sponsors an ERISA-covered health and/or retirement plan for employees, it’s a good idea to review your responsibilities – and deadlines – to ensure compliance. The Employee Retirement Income Security Act of 1974 or ERISA is a Federal law

Read More »
New York State 2025-26 Enacted Budget: Impact on Education

New York State 2025-26 Enacted Budget: Impact on Education

Last updated on July 10th, 2025In early May, after a delay of several weeks, the Senate passed the Fiscal Year 2025-2026 State Budget. New York lawmakers have emphasized the need to safeguard economic security in the state, particularly in light of recent cuts to federal funding. This year’s budget is
Read More
What’s the Latest on Universal Pre-K in New York State?

What’s the Latest on Universal Pre-K in New York State?

Last updated on June 16th, 2025New York State continues to invest in Universal Pre-Kindergarten (UPK) programs with the passing of the 2025-26 Enacted State Budget. Let’s take a look at the current state of UPK in New York as well as the latest efforts to increase access to affordable early
Read More
Is Your School District Audit-ready?

Is Your School District Audit-ready?

Financial statement audits are crucial to any organization’s financial health, and school districts are no exception. A financial statement audit provides an independent assessment of an organization’s financial statements, which in turn ensures transparency, accountability, and a strong foundation for future planning. Preparation is key to ensuring a smooth audit
Read More
Implementing GASB 101’s Guidance on Compensated Absences: What School Districts Need to Know

Implementing GASB 101’s Guidance on Compensated Absences: What School Districts Need to Know

Last updated on April 22nd, 2025As government entities, school districts are required to implement GASB 101’s updated guidelines for the treatment of compensated absences for employees of state and local governments. What is GASB 101? The Governmental Accounting Standards Board (GASB) Statement No. 101 (GASB 101) updates the guidelines for
Read More
To Merge or Not to Merge: New York State Offering Increased Aid to Consolidating School Districts

To Merge or Not to Merge: New York State Offering Increased Aid to Consolidating School Districts

Last updated on March 18th, 2025As of July 2024, school districts in New York State that reorganize—or merge—are eligible for financial assistance of up to 40 percent of the Total Foundation Aid Base under the Reorganization Incentive Operating Aid (RIOA) program. Unfrozen in the 2024-2025 state budget, RIOA is available
Read More
Governor Hochul’s 2025 Education and Child Initiatives

Governor Hochul’s 2025 Education and Child Initiatives

On January 14, Governor Kathy Hochul delivered her annual State of the State Address in Albany. The governor’s plan for 2025 includes several initiatives focused on supporting children and education in New York State. Among the proposed initiatives are an expansion of the child tax credit and a free universal
Read More
Outsourcing Year-End Closing and Financial Statements: Eight Benefits for School Districts

Outsourcing Year-End Closing and Financial Statements: Eight Benefits for School Districts

Last updated on September 27th, 2024Financial management is a weighty responsibility for all organizations. School districts’ fiscal activities have the added burden of standing up to the multi-faceted demands and scrutiny of parents and taxpayers. More and more, school districts are outsourcing accounting – especially when it comes to budgeting,
Read More
An Update on the New York State Foundation Aid Formula Study

An Update on the New York State Foundation Aid Formula Study

After Foundation Aid and the “hold harmless” provision survived New York’s 2025 budget process, Governor Hochul stated in her 2025 budget press release that education priorities include “a Rockefeller Institute study to examine Foundation Aid and prepare for formula changes next year.” Here’s what happened next… The Rockefeller Institute embarked on a
Read More

Map of Qualified Census Tracts (QCTs)

  • Move map to NY and scroll to zoom in
  • Under Map Options select “Color QCR Qualified Tracts”