Employee Benefit Plans
At Swenson Corporation, we are committed to achieving the highest quality and most efficient audits possible with our specialized team of auditors. We have over 20 years of experience in performing employee benefit plan audits. We are dedicated to bringing the highest level of experience and knowledge to your plan’s audit.
Swenson is a member of the Employee Benefit Plan Audit Quality Center, we are committed to adhering to the highest quality standard, which includes establishing quality control programs, performing annual internal inspection procedures, and making our peer review report findings publicly available.
Our team of employee benefit plan auditors stay current in this highly technical practice area by attending the annual AICPA National Conference on Employee Benefit Plans and other relevant seminars and by reviewing monthly publications and updates from the Department of Labor and Internal Revenue Service.
We strive to keep our clients up to date with current and prospective changes that may affect their pension plans. One of our main objectives for our clients is that they, along with their staff, continue to improve their knowledge and understanding of their responsibilities to the Plan and its participants.
Auditors must comply with the Department of Labor’s (DOL) Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 (ERISA), as well as professional standards, when performing audits for pension plans.
Our audits are designed to perform certain procedures directed at considering the plan’s compliance with applicable Internal Revenue Code (IRC) requirements for tax-exempt status. In addition, we stay alert for instances of noncompliance with the DOL or ERISA rules and regulations that may come to our attention. When noncompliance items are noted, we work with you to review the effect on the Plan and what corrective actions should be taken in a timely manner.
We have access to several ERISA attorneys that we can recommend to fit your needs, whether it be Plan development, review, changes or compliance.
Our pension plan services include the following:
· 401(k) Plan audits, both full and limited scope
· Pension and Profit Sharing Plan audits, both full and limited scope
· Defined Benefit Plan audits, including cash balance plans, both full and limited scope
· ESOP audits
· 403(b) Plan audits, both full and limited scope
· Assistance with Excise Taxes Related to Employee Benefit Plans (Form 5330)
Assistance Delinquent Voluntary Compliance