Internal Controls for Employee Benefit Plans

When an employee benefit plan is implemented, it is important for the plan sponsor (or employer) to communicate the roles and responsibilities of the affected departments, typically human resources, payroll and accounting. The human resource department communicates information about the benefit plan to employees as part of the orientation process, as well as monitors eligibility[ … ]

Amendment & Restatement: Is your plan included?

Most retirement plans have adopted a pre-approved plan published by a third party. If your plan is included, you may see the term “prototype” or “volume submitter” in the plan document or on its cover page. You can also refer to the “Federal income tax status” footnote of your plan’s audited financial statements to see[ … ]