Employee Benefit Plan Audit
Most employers would agree that their employees are their greatest assets. Along with compensation and other benefits, your organization’s retirement plan is a significant retention tool. It is also, however, a highly regulated fiduciary responsibility, with rules and regulations imposed by ERISA, PBGC, the Department of Labor (DOL) and the Internal Revenue Service.
Federal law requires that employee benefit plans with 100 or more eligible participants must be audited each year. There is so much to know about — from determining when an employee benefit audit is indicated and how to prepare for it, to what to expect from the auditor who performs it. You are best served by a certified public accounting firm with substantial knowledge and experience in the unique area of employee benefit plans.
Meyers Brothers Kalicka is a member of the AICPA’s Employee Benefit Audit Quality Center. This affiliation indicates our commitment to adhering to the highest quality employee benefit plan audit standards within the industry. It also provides access to the most current resources, in-depth knowledge and best-practice processes that affect your plan, to help you fulfill your fiduciary responsibilities. As new regulations have emerged, Meyers Brothers Kalicka has been in the forefront, educating our clients with value-added seminars, education and compliance strategies.
403(b) and 401(a) plans
Defined benefit plans
Health and welfare benefit plans
Providing on-time and high quality audits that minimize your fiduciary risk
Providing efficient and cost effective employee benefit audits, with a minimal disruption to your staff
Proactive communication with your staff and third party administrators, to help them prepare for each audit
Education on new rules and regulations that impact your employee benefit plan
Evaluation of benefit plan record keeping and reporting processes with recommendations to enhance compliance with governing agencies and minimize the risk of costly penalties and sanctions
Representation during DOL and IRS inquiries and audits