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Penalties Hit ERISA Plans in Spite of CPA Audits
Roland|Criss 
Aug. 1, 2017 "While the number of filing deficiencies are frequent among smaller plans (i.e., plans with fewer than 100 participants), which aren't required to have an annual CPA's independent financial audit, the DOL is concerned about the increasing number of deficiencies it sees for plans that receive a CPA's annual financial audit.... [D]eficiencies ... include: [1] Incorrect payroll calculations; [2] Failure to properly synchronize changes in participants' deferral rates with the recordkeeper; and [3] Recordkeepers' vesting errors on distributions." MORE >> |
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