News & Insights
Seven Key Topics Every Retirement Plan Oversight Meeting Should Address
If your organization lacks an employee benefit plan oversight committee, establish one now to comply under the Employee Retirement Income Security Act (ERISA) fiduciary requirements and strengthen governance. The committee should ideally include senior leaders from...
One Big Beautiful Bill Act
RecordingOverview Gain insight into recent legislative developments and explore strategic implications at the McConnell Jones webinar, “One Big Beautiful Bill Act: Key Provisions Affecting Small Business and Individuals.” This session is designed to provide...
The One Big Beautiful Bill Act: A New Era for Charitable Giving
Signed into law on July 4, 2025, the One Big Beautiful Bill Act (OBBBA) introduces sweeping changes to the U.S. tax code, with significant implications for charitable giving. Building on the 2017 Tax Cuts and Jobs Act (TCJA), the OBBBA aims to broaden participation in...
DOL Updates Guidance on Alternative Assets in 401(k) Plans: Changes Affect Retirement Investment Options
On August 12, 2025, the U.S. Department of Labor (DOL) officially rescinded its December 2021 supplemental statement, which had previously advised fiduciaries of smaller 401(k) plans against including alternative assets—such as private equity—as part of their...
Understanding Tax Net Operating Losses (NOL)
In the unpredictable world of business and personal finance, income can vary dramatically year to year. Whether driven by economic challenges, startup investments, or unforeseen events, these fluctuations may result in financial setbacks. When allowable deductions...
Enhancing Cybersecurity Measures in Benefit Plan Operations
Following the recent article titled “The Importance of Cybersecurity Measures in Benefit Plan Operations,” this statement highlights the increasing significance of cybersecurity in benefit plan operations. As cyber threats increase in complexity and focus,...
Five Practical Steps to Stay Compliant with Notice Requirements for Your Benefit Plan
Timely distribution of required plan notices is a critical component of fiduciary responsibility under the Employee Retirement Income Security Act of 1974 (ERISA). Notices such as Summary Plan Descriptions (SPDs), Summary Annual Reports (SARs), and fee disclosures...
The Importance of Cybersecurity Measures in Benefit Plan Operations
In an era where digital threats are escalating, benefit plans—including 401(k)s, pensions, and health savings accounts—have become prime targets for cybercriminals. These plans contain immense amounts of sensitive personal and financial data, thereby making...
EBP Auditor’s Tip: Guide to Best Practices for Plan Administrators
Are You Reviewing Your Retirement Plan Fees Regularly? Here’s Why You Can’t Afford to Skip This Step What if you discovered that high fees were impacting on your retirement plan participants’ savings and potentially placing fiduciaries to liability for failing to act...
Unlocking the Backdoor: Tax Implications of Converting Traditional IRA Funds to a Roth IRA in 2025
High-income earners can bypass Roth IRA income limits using the backdoor Roth IRA strategy. This allows individuals to contribute to a non-deductible Traditional IRA and then convert those funds to a Roth IRA. This legal method has important tax considerations....
Navigating the Complexities of Unrelated Business Income Tax (UBIT)
Few topics generate more confusion for nonprofit organizations than Unrelated Business Income Tax (UBIT). It is also one of the areas that can cause the most problems for your organization, costing you money in the form of taxes, and in more severe cases, potentially...
McConnell Jones Announces Promotion of Elizabeth (“Liz”) Meyers to Information Technology Risk Advisory Partner
FOR IMMEDIATE RELEASE April 7, 2025 McConnell Jones Announces Promotion of Elizabeth (“Liz”) Meyers to Information Technology Risk Advisory Partner HOUSTON, Texas - McConnell & Jones, the largest majority African American-owned and controlled public accounting...
Five Practical Steps to Evaluate Investment Options for Your Benefit Plan
Monitoring the investment options in your plan is a fiduciary responsibility under ERISA (the Employee Retirement Income Security Act of 1974). For those managing 401(k) or similar plans, conducting regular reviews of the investment lineup helps ensure that it meets...
McConnell Jones Announces Acquisition of Taylor CPA & Associates
HOUSTON, Texas – February 7, 2025 – McConnell Jones, the largest majority African American-owned and controlled public accounting firm in the United States, today announced that it acquired Taylor CPA & Associates (TCPA), a well-established public accounting firm...
ISO 27001 Recertification: Continuing to Safeguard Our Clients’ Data
McConnell Jones, an industry leader in Assurance, Tax, and Consulting services, has renewed its ISO 27001:2013 certification for its Information Security Management System (ISMS). At McConnell Jones, safeguarding our clients’ data is our top priority. We understand...