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April 30, 2013

The Verizon 2013 Data Breach Investigations Report is out and per the report's introduction, "perhaps more so than any other year, the large scale and diverse nature of data breaches and other network attacks took center stage" in 2012. This year's global study conducted by the Verizon RISK team is in cooperation with eighteen organizations around the world contributing to the data and analysis. You can view the Executive Summary and their webinar for freeonline.

A quick snapshot of the data:

  • 47,000(+) reported security incidents, 621 confirmed data breaches and at least 44 million compromised records in 2012 (the largest amount the Verizon Report has ever covered in any single year)
  • 38% of breaches impacted larger organizations and 37% of breaches affected financial organizations (Both percentages show a 10% or greater increase from last year's report)
  • 76% of network intrusions exploited weak or stolen credentials
  • 52% of breaches used some form of hacking
  • 78% of initial intrusions rated as low difficulty
  • 66% of breaches took months or more to discover
  • 69% of breaches were discovered by external parties

As the above data reveals, over half of breaches take months to discover and are uncovered by someone outside the victim's organization. If your company handles credit cards, you could be at risk for data breach. Each day there are criminals attempting to access the cardholder data in those monetary transactions. Is your organization compliant with PCI Data Security Standards (DSS)? Our team of professionals understands how others are meeting PCI DSS requirements and can offer recommendations to help you address non-compliant areas.

Have questions? Contact Karen Cassella (kcassella@cbiz.com), Executive Vice President, CBIZ Security & Advisory Services at (901) 685.5595 or email pci@cbiz.com. You can also see Karen speak on data breach at our CFO/Controller Conference, May 14th. Click here for more info.

April 25, 2013

A provision to create state-based Health Benefit Exchanges will open up another option for health care coverage for employees. This new regulation will benefit some employees by providing them with tax credits for their insurance under a state Exchange. While this change will likely only apply to some employees, large employers should take note of the Exchange and its effects on their business.

The penalty effective starting in 2014, known as the Shared Responsibility Payment, includes a nondeductible excise tax assessed on large employers who do not provide minimal essential coverage or affordable coverage to their full-time employees. For instance, if a full-time employee goes to an Exchange and is granted tax credits for health insurance then consequently, their employer may be subject to a penalty.

Large employers*, with at least 50 full-time employees or equivalents, will be affected by the penalty. Full-time employees include employees who work at least 30 hours per week. Leased employees as defined in IRC § 414 (n)(2) are not treated as full-time employees.

Large employers that employed an average of 50 or more employees on business days for the preceding calendar year may be required to make a “shared responsibility” tax (“assessable payments”) for each month that the employer did the following:

  • Had at least one full-time employee certified as having enrolled in a qualified health plan for which a premium tax credit or cost-sharing reduction is allowed or paid [i.e. the employee goes to the Exchange and qualifies for the credit or subsidy]
  • Did not offer essential coverage for all its full-time employees, OR, offered coverage to its full-time employees that is unaffordable or is a plan that does not provide minimum value

The essential coverage plan components affect generally any employer-provided coverage which satisfies a host of various mandates. These mandates include having no pre-existing condition exclusions, waiting periods exceeding 90 days or annual dollar limits on the essential health benefits. It also includes those mandates that provide coverage for dependent children to age 26, have cost-sharing limits and provide clinical trial coverage. Generally, most large employer plans with 100 participants or more will meet these requirements.

*Aggregate the number of employees who are not full-time employees (aggregate number for hours/month worked by part time employees divided by 120) Note: This computation is only for purposes of determining large employers and has no other use under PPACA.

Before you determine how much the Affordable Care Act will cost you, it is in your best interest to reach out to someone who will go over the details surrounding the reform. CBIZ Memphis has a specialized team of individuals who have been trained in all facets of ACA. Schedule a meeting with one of our experts by contacting Megan Murdock, 901.685.5575.

April 23, 2013
CBIZ MHM Memphis' Client Development Manager, Megan Murdock, has been named a Memphis 'Woman to Watch' by The Commercial Appeal. Megan has lived here her entire life, receiving her Bachelor's in Corporate Communications from Christian Brother's University and a Master's in Public Relations from the University of Memphis. Though she did not have a set career path out of school, she knew she did not want to be in accounting. Now she laughs, because she has worked at CBIZ MHM Memphis (formerly Thompson Dunavant PLC) for over 6 years and has fallen in love with professional services marketing.

"Since accounting is a little outside my wheelhouse, I really wanted to be able to be taken seriously and talk the lingo and sell it," she said. "I've spent a lot of time training on processes. At the end of the day, I'm not a CPA, so I'm never going to close a deal. However, what I can do is provide the resources to support the people who can do that."

- Excerpt from Stacey Wiedower's article, "Women to Watch: Career took unexpected path to fulfilling job"

We at CBIZ MHM Memphis are proud to have Megan on our team and encourage you to read part of her Q&A section below, taken from the article featuring her achievement.

CA: What's your overriding mission in your role with CBIZ MHM?

Megan: My title is client development manager. My main responsibility is to drive growth to our office through lead generation, client retention and thought leadership. Additionally, I work with our marketing coordinator to manage our local brand presence through ads, events and press coverage.

CA: You're a self-proclaimed "avid Memphian." What do you like best about the city?

Megan: I love the city's size -- in terms of ease to get around and ability to have connections wherever you go. Also, the local culinary scene is amazing!

CA: How do you spend your spare time?

Megan: I try to spend my spare time with my husband and our 2-year-old daughter, taking advantage of all the awesome things Memphis has to offer -- the zoo, My Big Backyard at Memphis Botanic Garden, the Greenline, the Children's Museum, Levitt Shell and the Downtown Farmer's Market ... the list is endless!

For the full article, visit The Commercial Appeal's website.

April 18, 2013

The employers affected by the reform can be narrowed down to a group of high risk demographics and industries. Those employers having a high percentage of potentially full-time low pay workers, or having a significant number of “temporary” or “seasonal” workers are in danger. Also, those employers providing no medical benefits to a large employee base working 30+ hours a week could be hit with a tax. Other factors include having health benefits deemed “very high” or managing enrollment using “long” waiting periods (more than 90 days before an employee is eligible).

Industries at risk include the following:

  • Lodging & Hospitality
  • Restaurant & Food Service
  • Retail
  • Janitorial & Cleaning Service
  • Staffing & Security Companies
  • Non-unionized Manufacturing
  • Construction
  • Transportation

Before you determine how much the Affordable Care Act will cost you, it is in your best interest to reach out to someone who will go over the details surrounding the reform. CBIZ Memphis has a specialized team of individuals who have been trained in all facets of ACA. Schedule a meeting with one of our experts by contacting Megan Murdock, 901.685.5575.

April 16, 2013

CBIZ Memphis will be hosting a CFO/Controller Conference Series May 14, 2013, at the Fogelman Executive Center on the University of Memphis campus. The event will be a half-day seminar focused on providing CFOs and controllers with direction on addressing current challenges within their respective organizations including the Affordable Care Act, data security standards in the payment card industry and the current lending environment.

Registration will begin with a breakfast at 8:30 a.m. and the event kicks off at 9:00 a.m. Listen to the following speakers and their presentations to receive a total of four CPE credits (Lunch will be served during the last topic). You can REGISTER HERE.

Topics include:

Business Lending: Navigating Today's Regulatory and Economic Challenges,Edward J. Gentry, Executive Vice President & Chief Lending Officer - Triumph Bank

Data Breach - Are you Ready?,Karen Cassella, Executive Vice President - CBIZ Security & Advisory Services, LLC

Would You Enthusiastically Rehire Your Team? How to Create 'A' Players Throughout Your Organization, Michael Synk, Strategic Coach - In-Synk

Affordable Care Act Update, Kim Agah, Vice President -CBIZ Benefits & Insurance Services, Atlanta

Can't attend the event? Follow along with the conversation on Twitter using #CFOController.

Registration: 8:30 a.m.

Event runs 9:00 a.m. - 1:00 p.m.

4 CPE Credits

$50, Breakfast & Lunch Included

Will you be attending our CFO/Controller Conference Series? Have a question or topic you would like covered by one of the experts? Leave your comment below and we'll make sure to pass it along.

April 11, 2013

The Congressional Budget Office (CBO) estimates that approximately 30 million people will purchase their own coverage through the new insurance exchanges by 2019, and there will be roughly 15 million more enrollees in Medicaid and CHIP than is projected under current law.

The Tennessee Government's website notes, "The federal health reform requires every state to have an Insurance Exchange.... an organized marketplace where individuals [and small businesses] can search for and purchase health insurance for themselves and their family members. While the law requires each state to have an Insurance Exchange, states have the option of either running their own Exchange, or handing that authority over to the federal government."

When the American Health Benefit Exchanges for individuals and Small Business Health Options Program (SHOP) exchanges are fully in place, they will provide access to health insurance for 24-30 million Americans. The exchanges will be primarily markets where individuals and employees of small businesses will be able to ‘shop’ for a range of affordable health insurance choices. In addition, it will be a place for lower and middle-income uninsured Americans to go to apply for premium assistance tax credits and cost-sharing reduction subsidies to make health insurance affordable. The two groups will sponsor navigator programs to educate and inform health insurance consumers and to facilitate health insurance purchasing. Finally, they will play a regulatory role, requiring the Qualified Health Plans (QHPs) they offer to meet certain quality and information disclosure requirements and reviewing QHP premiums and performance.

Click here to view the status of your state on health insurance exchanges.


Before you determine how much the Affordable Care Act will cost you, have a discussion with someone who understands the details surrounding the reform. CBIZ Memphis has a specialized team of individuals trained in all facets of healthcare reform. Schedule a meeting with one of our experts by contacting Megan Murdock, 901.685.5575.

April 9, 2013

The Memphis office of CBIZ MHM held a two-day event for women in business in the Mid-South. With the recent launch of their internal CBIZ Women’s Advantage Networking Circles program for women executives, the office is expanding its efforts externally to provide women decision makers access to a network of highly skilled, seasoned, professional women. Following the mantra, “CBIZ Women Helping Women Succeed in Business,” the program is making national headlines. The woman behind its success, Nancy Mellard, National Leader of CBIZ Women’s Advantage, travelled from Kansas City to Memphis to attend both events and was a panelist at the Women & Business Seminar.

A cocktail party at the Lexus of Memphis the night before the Seminar served as a meeting place for influential women in Memphis to mingle and network. The event included hors d’oeuvres by a local catering company, Pepper & Salt of Lunchbox Eats. Women from the CBIZ MHM Memphis office were also in attendance, using the opportunity to create new touch points and gain valuable insight into the successful careers of other women in the area.

The second of the two events, the Women & Business Seminar hosted by The Daily News featured keynote speaker, Susan Stephenson, CEO and co-founder of Independent Bank. Her presentation titled ‘Women and Business: Some Thoughts on Glass Ceilings and Glass Slippers’ covered a brief history of women’s rights and helped to launch discussions on where women have been and are currently. Stephenson’s take on her favorite childhood story of Cinderella was a fun, albeit serious, back-story encouraging women to not wait for a fairy god-mother to make a name for themselves. A panel discussion was followed by an audience-led Q & A session. The panel included Nancy Mellard, Pamela Irons, Attorney at Jackson Lewis, and Natasha Donerson, President/CEO of Success Unlimited.

The Memphis office counts both of these events as successes, and has received positive feedback from several of the attendees. Going forward the office hopes to continue using their CBIZ Women’s Advantage as an opportunity for business and professional development.

April 4, 2013

CBIZ Security & Advisory Services (SAS), LLC has expanded its payment data security service offering by obtaining the prestigious Qualified Security Assessor Designation (QSA) from the Payment Card Industry Security Standards Council. This designation enables CBIZ SAS, which specializes in data security, risk management and consulting services, to assess compliance and validate adherence to the PCI Data Security Standard.

This achievement will allow CBIZ Security & Advisory Services to expand their services, increasing its capability to perform a variety of tasks, and help them to become more cost-effective and operationally efficient. "Information security is an ever-evolving field that requires an understanding of both technical solutions and business process controls to secure confidential information," says Brenda Brigman, Executive Vice President. "This accreditation places CBIZ Security & Advisory Services among a select group of providers."

In order to become a certified QSA company, CBIZ Security & Advisory Services undertook a thorough review process to provide evidence that the company delivers PCI assessments in accordance with the PCI Data Security Standards at the highest level of performance and industry standards.

Karen Cassella, Executive Vice President of CBIZ Security & Advisory Services, states, "We can now provide clients with Qualified Security Assessors (PCI QSA) who have been certified by the Council to validate PCI DSS compliance. This is required when going through a PCI compliance audit."

The goal of PCI DSS standards is to minimize the risk of credit card fraud and to prevent other data security risks. Both large and small organizations that store, process or transmit payment card data via the five major payment card providers -- Visa, MasterCard, American Express, JCB and Discover -- must meet the standards to maintain the ability to accept payment cards. If not, they could face acquirer penalties and impair customer confidence and trust in doing business with them.

To find out more about our PCI Team and the services we offer visit: www.cbiz.com/pci.

April 2, 2013

The Memphis Business Journal recently partnered with Healthiest Employers, a wellness technology and data research firm focused on corporate health, to spotlight companies in the Mid-South who have outstanding health and wellness initiatives and cultures. The Memphis office of CBIZ MHM was selected as a finalist in the '2-99 Employees' category and was honored at an awards breakfast Thursday, March 28, at the Hilton Memphis.

Honorees were selected based on their participation in a survey that measured their workplace wellness efforts. Our office-wide fitness challenges, including our Biggest Loser and Pedometer Challenges, coupled with our CBIZ Great Health Program, are instrumental in our wellness success. We also implemented a Flexible Work Arrangement, unique to our Memphis office, giving our employees an opportunity to balance their work and life schedules, reducing their stress and improving their overall health.

During our busiest times of the year, we boost productivity by maintaining a healthy workplace environment. We provide weekly fruit deliveries during this time and implement fitness challenges to supplement healthy eating habits. Our most successful fitness programs were suggested by employees, as they take ownership in their own well-being and create a culture they want to be a part of and contribute to. Our Biggest Loser challenge encourages healthy eating and daily exercise habits. The team dynamic provides large amounts of support and last year's group lost a total of over 80 pounds. Another challenge currently in progress is our Pedometer Challenge. We show that getting in shape doesn't have to be complicated -- it can be as simple as walking.

As an incentive to participate, we allow employees to join in on the fun free of cost and make the challenges competitive, giving prizes to the overall winners. Additionally, we are fortunate to have national resources such as the CBIZ Great Health program easily accessible to all of our employees. The Memphis office is proud to have been selected as a finalist in these awards and is committed to maintaining these high standards of health and wellness in our workplace.


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