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Employee Benefit Plans

Employers who want to recruit and retain the most talented employees gain a competitive advantage by offering a comprehensive benefits package, including high-quality medical insurance, pension plans, and profit-sharing arrangements. Yet requirements by the U.S. and New York State Departments of Labor, the IRS, and other regulatory bodies can be complex and confusing. The consequences for noncompliance can result in unforeseen penalties and unexpected repercussions.  

Lumsden McCormick can remove the complexity of managing your company’s employee benefit plans.

Our employee benefits practice team provides employee benefit plan audits, tax reporting, and consulting services to employers both large and small with a variety of single and multi-employer benefit plans. 

We are members of the American Institute of Certified Public Accountants’ Employee Benefit Plan Audit Quality Center. Membership requires compliance with stringent continuing education requirements and provides a network of valuable resources and industry tools.

Audit and assurance services:

  • Employee benefit plan audits
    • 401(k) Retirement Plans
    • 403(b) Retirement Plans
    • Defined Benefit Retirement and other Plans
    • Multi-employer Benefit Plans
    • Health and Welfare Plans
    • Employee Stock Ownership Plans (ESOP)

Tax services:

  • Form 5500 Series annual reporting requirements

Consulting services:

  • Department of Labor and ERISA regulatory compliance
  • Plan accounting systems, policies, and procedures

For more information about employee benefit plan audit services from Lumsden McCormick, please contact the Lumsden McCormick service leaders or complete the form below.

Services Leaders

Thomas Burns

Thomas M. Burns, CPA, CMA

Sherry DelleBovi

Sherry L. DelleBovi, CPA

Max Donlon

Max Donlon, CPA

Michael Grimaldi

Michael J. Grimaldi, CPA

Jill Johnson

Jill M. Johnson, CPA, CFE, CITP, FHFMA


Upcoming Events

Webinar Series Part V: Changes to Lease Accounting and How it Impacts Your Organization

Webinar Series Part V: Changes to Lease Accounting and How it Impacts Your Organization

July 27, 2021

The accounting for leases is changing significantly. The required implementation of FASB ASC 842 will mandate that most leases are included on the balance sheet as a right-of-use asset, with a corresponding lease liability. The new standard will impact nearly all commercial businesses and nonprofit organizations and is effective for annual reporting periods beginning after December 15, 2021.

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Webinar Series Part VI: The Pandemic and the Economy - Where Are We Now?

Webinar Series Part VI: The Pandemic and the Economy - Where Are We Now?

August 10, 2021

As everyone knows, the COVID-19 pandemic has had a global impact beyond health and safety concerns.  With millions of Americans vaccinated, where does the economy stand and what can be expected across the Upstate region, New York State, the United States, and Canada?

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