Randall & Hurley, Inc.
Loren D. Stark Company
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|Some Small Retirement Plans Now Must Have Audited Financials (PDF)|
Warner Norcross & Judd LLP
July 29, 2002
Article at page 4 of 4. Excerpt: Retirement plans with less than 100 participants at the beginning of a plan year .... have been exempt from the ERISA requirement of preparing audited financial statements and furnishing an accountant's opinion as part of the Form 5500 Annual Report. Under new Department of Labor regulations, this exemption will no longer apply unless one of the following alternatives is met: At least 95% of plan assets constitute 'qualifying plan assets.' ...
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