Compensation & Benefits
Anchin’s Compensation and Benefits (CAB) Services Group provides a variety of services to clients, including financial statement audits of qualified retirement plans. Our audits focus on compliance issues, including Department of Labor (DOL) hot topics such as:
- Accurate allocation of contributions to employee-designated investment choices
- Operation of the plan in a manner that is consistent with the plan document, including its specific definition of compensation
- Remittance of employee deferrals to the plan in a timely manner
- Plan documents have been updated in a manner consistent with statutory requirements
The CAB Group has an intricate understanding of the highly technical performance of Employee Benefit Plan (EBP) audits. Our group’s knowledge and experience will facilitate your firm’s compliance with complex and frequently changing regulations that impact your company’s EBP.
We plan and execute our audits to maximize both efficiency and quality, including the use of a standard paperless audit process. During our audits, we often uncover plan deficiencies and recommend corrective action to help companies avoid violating DOL or Internal Revenue Service (IRS) rules. Your plan administrator and human resources personnel will enjoy the confidence that comes with knowing the plan is operating correctly, with minimal risk in the event of an examination by a government agency.
- Audits of EBPs including 401(k), profit sharing, target benefit, and cash balance plans
- Consulting services to stock compensation plans, phantom stock plans, and executive employment arrangements
- Advice on plan mergers, plan terminations, compliance with controlled group rules, and rectifying plan failures
- Tax examination representation