Art of the Qualified Plan Audit

Many nonprofits who sponsor ERISA 403(b) plans are not aware that they need an audit, because counting participants involves much more than knowing how many full-time employees the organization has or how many account balances are in the plan.

As discussed in one of our previous blog posts How to stop a non-elective contribution, circumstances and factors often arise that have us wishing that a commitment that we had entered into had an escape clause.