Tag: Ask The Expert

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The Key Benefits to “On‐Shoring” Your Production Process

The United States manufacturing industry’s employment levels peaked in the late 1970’s; however, since that time period off shoring of jobs has dominated and the manufacturing industry and employment levels as a whole have declined.  In the past few years, though, there has been a significant move to “Re‐Shore” jobs within the manufacturing industry. We’re finding that some of the main reasons companies initially chose to offshore their production process are the same reasons why companies are bringing these jobs back to the United States. 

Written By: Adam Buttery, Director – Accounting and Auditing Services
(with Tax input by Karen Souza, Director – Tax Services)

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Will Your Employees Be Prepared for Retirement? Increase Participation Rates in Your Plan

Beginning in the 1980s, US corporations began transitioning from traditional defined benefit (DB) to defined contribution (DC) plans (what are more commonly known as “401(k) plans”) as the primary retirement plan offered to their employees. This transition shifted the primary responsibility for an employee’s retirement readiness from the employer to the employee.

Many have suggested that this transition has had a negative impact on the US retirement system. To determine if this claim is valid or not requires a look at whether DC plans are effective in helping employees accumulate enough to enjoy a financially secure retirement.

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