Protecting Plan Participants and Sponsors
Large employee benefit plans (generally those with 100+ eligible participants) require annual audits filed with the Department of Labor. These audits serve to protect plan participants and help plan sponsors fulfill their fiduciary duties.
Our benefit plan audit practice provides thorough, efficient audits that meet DOL requirements while providing valuable insights into plan operations and compliance.
Plans We Audit
- 401(k) and 403(b) defined contribution plans
- Defined benefit pension plans
- Profit-sharing plans
- Employee Stock Ownership Plans (ESOPs)
- Health and welfare plans
- Multiple employer plans (MEPs)
Our Approach
We understand the specific requirements and common issues in benefit plan audits, allowing us to deliver compliant audits while identifying opportunities for plan improvement.
- Coordination with plan administrators and third-party service providers
- Testing of participant data, contributions, and distributions
- Review of plan document compliance and operational procedures
- Identification of prohibited transactions and compliance issues
- Timely completion for Form 5500 filing deadlines