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403(b) Plan Audit Procedures: Universal Availability
Belfint Lyons Shuman Link to more items from this source
June 10, 2022

"Universal Availability violations often result in material adjustments to the financial statements due to size of the corrective contributions that must be funded by the employer when eligible employees are improperly excluded from participation. For that reason, auditors do need to see census and payroll data for all employees who have been excluded from plan participation, as well as annual notices of the opportunity to defer for those who are eligible but not contributing."

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