It’s more important than ever for employers to determine that their benefit plans adhere to Department of Labor and Internal Revenue Service regulations, as these regulatory bodies have become better at identifying businesses that fail to comply with fiduciary responsibilities. In addition, while the CARES Act delivered opportunity for relief for both plan sponsors and their participants, it also increased complexity in areas of plan compliance.
LaPorte Employee Benefit Plan Service Group Co-leaders Daniel Williams, CPA, CCIFP, and Jordan Montz, CPA, CCIFP, MBA recently hosted a webcast to share highlights on common plan deficiencies and to look forward at what’s ahead for employee benefit plans in 2021.
Topics included:
- Common Audit Findings
- Impact of SAS 136 on 2020 audits performed in 2021
- Cost of Living Adjustments to Deferral Limits
- Required Participant Notices
- Plan Document Restatements
A video of the full presentation can be accessed below.