Moss Adams audits over 800 employee benefit plans each year, ranging in size from 100 to 60,000 participants with $100,000 to more than $1 billion in assets. This number includes approximately 100 403(b) plans for tax-exempt entities. Types of plans we audit include:
- Defined contribution
- Defined benefit
- Employee stock ownership
- Health and welfare
AICPA Employee Benefit Plan Audit Quality Center Member
Moss Adams is a member of the AICPA's Employee Benefit Plan Audit Quality Center (AQC), which was established to help CPAs meet the challenges of performing quality audits in this unique and complex area. The AQC communicates with members regarding regulatory developments, best practices guidance, and technical updates. Bertha Minnihan, national chair of our Employee Benefit Services practice, serves on the AQC’s Executive Committee.
Team
You get an efficient, well-trained audit team when you work with us. We receive specialized training to stay current on ERISA, DOL, and IRS rules and regulations, so you get a more efficient audit. Our proactive approach helps eliminate ERISA violations and results in timely filings without surprises.
Solutions
Our clients receive solid, innovative solutions based on their particular set of facts and circumstances. We work with a variety of plan administrators, actuaries, attorneys, and investment consultants to incorporate our industry knowledge and experience into meeting our clients’ needs.
Some of the solutions we provide include:
- Review of plan documents and operating procedures
- Review of overall plan strategy and cost structure
- Assistance with determining the best plan to sponsor
- Facilitating requests for proposal (RFP) processes
- Assessment and recommendations for benefit service providers
- Facilitating the preparation of Form 5500 filings and attachments
- Resolution of complex compliance issues discovered during the audit
- Assistance with prohibited transaction issues
- Assistance with IRS and DOL audits
We can provide these services to the extent permitted by professional standards while complying with government regulations.
Contact us today to learn how our employee benefit services can add value to your plan.
Newsletters
Spring 2012
- Moving from SAS 70 to SSAE 16: What You Need to Know
- Does Your Retirement or Welfare Plan Need an Audit?
- Pop Quiz: How Healthy Is Your Plan?
- Profile of an Employee Benefit Services Professional: Lars Landrie
- Upcoming Webcasts and Events
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Quick Tips
Fee Disclosures
The DOL issued an interim final rule on July 15, 2010, and issued a final rule on February 2, 2012. It requires service providers to disclose compensation and potential conflicts of interest. The rule was initially set to become effective July 16, 2011, but it ha been extended to July 1, 2012.
The rule will apply to all existing and future contracts or arrangements. It will also generally apply to all ERISA-governed defined benefit and defined contribution plans. The rule doesn't apply to severance plans, governmental plans, church plans, or certain 403(b) plans. It also expressly doesn't apply to SEPs, SIMPLE retirement accounts, IRAs, and non-ERISA-governed single employee plans.
As a result, plan sponsors and service providers may want to:
- Determine who is a covered service provider
- Determine what fees need to be disclosed and how to calculate them
- Prepare and deliver all required disclosure information no later than July 1, 2012
- Develop a process for preparing and delivering disclosure information in advance of future contracts
- Revise contracts to include a checklist of all required information
See more > >