Elective Deferral Election Benefit Plan Administration
One of the most common operational errors when administering retirement plans is the failure to implement a participant’s elective deferral election or change in percentage.
Yearly Archives: 2016
Accounting Standard Update 2015-12 – Simplifying Retirement Plan Financial Statement Disclosures
Users of accounting information make informed decisions using information contained in the financial statements.
Financial Statement Audits of Retirement Plans
Prospective clients often want to see a sample information request letter to get a better idea of how an audit will progress. In response to that frequently asked question, we created a white paper to assist clients in preparing for their retirement plan audits.
Preparing For An Employee Benefit Plan Audit
When it comes to an employee benefit plan audit, having the right information ready in a timely fashion is imperative for a smooth and efficient audit. Since the retirement plan audit season is now going strong I am providing a link to the AICPA’s EBPAQC 403(b) Retirement Plan Audits Sample Auditor Request List for Plan Information.
Highly Compensated Employee Identification
In retirement plan administration, it is sometimes necessary to use prior year data to make certain determinations.
Department of Labor Emphasizes the Importance of Selecting a Quality Auditor
The Department of Labor just sent a letter to plan administrators emphasizing the importance of selecting a quality auditor.
No Good Deed Goes Unpunished: Don’t Forget the Compensation Ratio Test
Most plan sponsors know that their retirement plans are subject to discrimination tests, generally designed to prevent highly compensated employees (HCEs) from obtaining a benefit that is disproportionately favorable when compared to the benefits of the non-highly compensated employees (NHCEs).