Too often considered straightforward and routine, managing a benefit plan in accordance with a myriad of regulatory and professional requirements is anything but. And when things go wrong, you risk sizeable fines and a serious tax liability, along with a disqualified plan, disgruntled employees and personal fiduciary liabilities for your plan’s fiduciaries and trustees.
According to the US Department of Labor, this happens all too frequently. For example, roughly one-third of all benefit plan audits are so seriously flawed that their sponsors are required to perform additional procedures or simply redo the entire audit. We can help.
Our professionals are skilled in providing audits for defined contribution plans, defined benefit plans and employee stock option plans (ESOPs), as well as accounting and business advisory services for these plans.
In addition to satisfying government requirements the first time, we can help you identify problem areas and troubled plans, and provide solutions before they result in significant sanctions.
We keep you informed of regulatory changes and other significant events that impact your plan. And in doing so, we minimize the potential risks, both financial and regulatory, to your plan and its trustees.
At Bader Martin, we excel in servicing the needs of employee benefit plans—including complex and troubled plans—at a competitive cost.