Companies that offer employee benefit plans like health insurance or retirement benefits are governed by the Employee Retirement Income Security Act of 1974 (ERISA). ERISA is a federal law that requires employee benefit plan administrators to follow certain...
As the plan administrator, you do your best to keep your employee benefit plan in compliance. However, once your plan has 100 or more participants, you will need to get an independent audit from an accounting firm. The auditing process can be overwhelming given the...
Under federal law, most organizations with an employee benefit plan (EBP) that has 100 or more participants are required to submit audited plan financial statements when they file their annual tax return or report. This audit is required to ensure that the...
Do you offer benefit plans to your employees like 401(k)? Then you may be required to have the plan audited by an independent public accountant under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA requires that an annual report be filed with the...