Retirement Plan Audit Risks: Identifying Plan Errors and Remedying Noncompliance
Preparing 401(k), 403(b) and Retirement Plans for Audit
Recording of a 110-minute CPE webinar with Q&A
This course will apprise auditors and plan sponsors of the potential audit risks relating to their 401(k) and retirement plans and address how to bring these plans into compliance. The panel will identify common plan deficiencies, corrective actions and insights into avoiding plan audits.
Outline
- Recent IRS and DOL initiatives on retirement plan audits
- Compliance issues and remedies
- Effective procedures and corrective actions
- Best practices for ensuring compliance
Benefits
The panel will cover and address these and other issues:
- Identifying current areas of IRS and DOL focus
- Addressing and correcting areas of noncompliance
- Determining employee eligibility and compensation
- Making timely payments of deferral contributions
- Updating plans to meet ERISA requirements
- Minimizing audit risks
Faculty
Dannae Delano
Partner
The Wagner Law Group
Ms. Delano concentrates her practice in employee benefits law, executive compensation and taxation. She counsels... | Read More
Ms. Delano concentrates her practice in employee benefits law, executive compensation and taxation. She counsels clients on all aspects of employee benefits design, implementation, termination, and compliance for retirement plans, health and welfare plans, and executive and incentive compensation arrangements. In the process, Ms. Delano focuses on comprehensive, practical and innovative employee benefits solutions for all types of employers
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Deborah L. Grace
Member
Dickinson Wright
Ms. Grace counsels private companies and equity funds on the benefit plan implications of business acquisitions and... | Read More
Ms. Grace counsels private companies and equity funds on the benefit plan implications of business acquisitions and dispositions, including due diligence review and advising on the integration of benefit programs based on the structure of the business deal. Her experience includes advising non-US entities on the unique tax rules that require separate legal entities under common control to be treated as one employer for US non-discrimination rules. Ms. Grace has counselled clients on how to correct retirement plan administration errors, including late transfer of deferrals and failure to timely amend plan documents. She has extensive experience in advising plan sponsors on the design, implementation, and administration of various types of retirement plans, including 401(k), profit sharing, defined benefit, ESOP, 403(b), and 457 plans, and advises investment committees on their ERISA fiduciary responsibilities with respect to these plans. Ms. Grace also advises companies on the design, implementation and administration of insured and self-insured medical plans, dental plans, life insurance, disability, and cafeteria plans, including pre-tax premium plans and flexible spending account plans, and compliance with the Affordable Care Act.
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