All 401(k) Plans have specific requirements to comply with IRS and Department of Labor regulations, Employee Retirement Income Security Act of 1974 (ERISA) rules and Plan Document specifications. Non-compliance can result in large penalties, lost administrative time and create negative employee satisfaction with company benefit programs. If your client sponsors a 401(k) Plan for their employees, this is a great course to help you guide your client through the myriad of regulations and requirements. Help them avoid the headaches associated with non-compliance and the cost and time required to correct deficiencies.
Understand all the parties involved in plan administration and their specific responsibilities.
Review the basic plan requirements.
Examine the monitoring activities needed to ensure the plan remains compliant.
Detail the error correction programs available if an error is discovered.
Kimberly is the Audit Partner with Summit CPA Group headquartered in Fort Wayne, Indiana. Summit specializes in 401(k) audits and currently conducts over 100 audits per year. The audits are conducted virtually with staff located throughout the United States. Kimberly has over 30 years of audit experience working primarily with a Fortune 250 financial services company in the areas of life insurance, annuities, retirement services, brokerage, information technology and other related areas. She also has experience with Sarbanes-Oxley Program Management and Six Sigma initiatives. She has worked internationally and throughout the United States. Kim has headed up the assurance section at Summit CPA since the beginning of 2014.
By taking a non-traditional approach to accounting, Summit CPA has undergone extreme growth since our humble beginnings. When traditional accounting firms have seen level or declining growth over the past 5 years, we have seen annual growths in excess of 15 percent in each of those years.
Do clients like the non-traditional approach? We think they do.