Does your plan include fewer than 100 participants?
As a fiduciary, you can be personally liable for actual losses or lost profits due to the misuse of employee benefit plan assets. Operational deficiencies are often discovered during an audit – but audits are typically not required for plans under 100 participants. So without an annual audit, how are you protecting your company, yourself, and your employees’ retirement?
Richey May’s Employee Benefit Plan Agreed Upon Procedures (AUP) program provides fiduciary due diligence to plans under 100 participants to help manage risk. We will specifically review areas related to:
- Compliance with plan documents
- Eligibility requirements
- Participant data testing
- Benefit payments
Let the independent auditors of Richey May help you confidentially identify your plan’s operational deficiencies before they become a financial liability.