Employee Benefit Plans
Employers offer a vast array of benefits such as medical, pension and profit sharing arrangements to attract and retain quality employees and maintain a competitive advantage; similar benefits may also be provided pursuant to a collective bargaining agreement. However, Department of Labor, Internal Revenue Service and other regulatory agency requirements related to these benefits are often confusing and complex, and noncompliance may result in unforeseen penalties and unexpected repercussions.
Lumsden McCormick’s many years of providing services to all sizes and types of single and multi-employer benefit plans have afforded us exceptional expertise in providing audit, tax and consulting services to clients in this specialty area. We are proud to be a member of the American Institute of Certified Public Accountants’ Employee Benefit Plan Audit Quality Center which subjects us to stringent continuing education requirements while providing valuable resources and a community network to assist in meeting the challenges of employee benefit plan audits and related services.
Our employee benefit plan services include:
Audit and assurance services
- Employee benefit plan audits
- Limited scope plan audits
- Form 5500 Series annual reporting requirements
- Department of Labor and ERISA regulatory compliance
- Plan accounting systems, policies and procedures
- American Institute of Certified Public Accountants (AICPA)
- AICPA Employee Benefit Plan Audit Quality Center
- Member of the Center for Public Company Audit Firms of the AICPA
- BDO Alliance USA
- New York State Society of Certified Public Accountants (NYSSCPA)
- Public Company Accounting Oversight Board (PCAOB)
Tuesday, August 15, 2017
It can be difficult for highly compensated employees to save enough money to maintain their current lifestyle in retirement. That’s where a nonqualified deferred compensation (NQDC) plan comes in.
Wednesday, June 28, 2017
Accounting systems are like tires - they all go flat eventually. Business owners should be prepared to upgrade this software on a regular basis. There are at least two good reasons for doing so.
Tuesday, June 27, 2017
Trending Tax Topics discusses President Trump's proposed 15% federal income tax rate on business income. Read what might change should this rate become law.