The employee benefit plan industry is multi-faceted and dynamic. Constant scrutiny by the U.S. Department of Labor and the Internal Revenue Service and frequent accounting changes render the era of the “cookie cutter” approach to auditing benefit plans obsolete. Today’s professional plan auditors should take your employees’ benefits as seriously as you do. We provide the insight you need to manage the challenges of providing employee benefits.
Our experienced and well-trained professionals use a flexible, risk-based approach to auditing employee benefit plans. This enables us to consider all aspects of your benefit plan’s control environment while developing our audit approach. As a result, our audit will always stand up to regulatory scrutiny.
Whether your plan requires a limited- or full-scope audit or even an 11-K filing, our auditors are long-tenured and experienced in 401(k) and other types of defined contribution plan audits, including:
We also provide plan-related services, including reports on service organization controls (SOC 1, 2, and 3 reports). In addition, we also provide other non-audit services you may require, including:
As new, more creative scams surface, police departments everywhere continue warning residents to be cautious when receiving phone calls from the "IRS".
On June 29, President Obama signed into law two major trade bills: (1) the Trade Preference Extension Act of 2015 (TPE); and (2) and the Trade Priorities and Accountability Act of 2015 (TPA).
The government has just recently made available the "Transitional Reinsurance Annual Enrollment and Contributions Submission Form" through their official government website. This document will enable health insurance issuers, and those company sponsored self-insured group health plans offering medical coverage, to comply with the required steps related to the Transitional Reinsurance Program as outlined in the Affordable Care Act (ACA).
The Social Security Administration (SSA) recently issued a cost-of-living adjustment for the Social Security taxable wage limit. For tax year 2015, the maximum amount of earnings subject to the Social Security tax will increase to $118,500 ($1,500 increase from 2014). The employee and employer tax rate will remain unchanged at 6.2%. Due to the increase in the wage limit, the maximum Social Security tax payable by an employee will be $7,347 ($93 increase from 2014).
January 1, 2015 will usher in the next phase of the Affordable Care Act. This phase will be the employer mandate. Initially, the employer mandate was to take place this year; however, it was postponed due to the belief that it would cause increasing confusion in a marketplace that was already ripe with confusion.