Make sure your retirement plan is in full compliance and know what to expect when an audit is scheduled.
With the ever-changing landscape for employee benefit plans, it becomes easier and easier for an employer to fall out of compliance and risk exposure. Many employers mistakenly rely exclusively on their brokers and service providers to keep them legally compliant with growing complex regulations. When the Department of Labor or IRS comes knocking and looking to examine the benefits being offered to employees, it is important for an employer to be knowledgeable and ready. Join Rebecca Dobbs Bush for this topic as she prepares employers how to best be audit-ready. You will learn how to discuss the goals and purpose of a DOL audit; describe the stages of an audit; review requested documents; and recognize what is being looked for. Rebecca will cover key concepts involved in employee benefit plans and the DOL Audit process, including: • Identifying priority areas for correction and determining materials that will demonstrate compliance; • Ensuring documentation and procedures are in place to support compliance with federal laws; and • Correcting any compliance issues prior to an audit to avoid penalties and expedite the audit process.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Goals and Purpose of a DOL Audit
Answering the Door/Phone
- Who Should Answer
- How to Handle Initial Contact
- Why You Are Being Contacted
Stages of an Audit
- Desk Audit
- Interviews
- No-Action Letters
- Management Review
Documents Requested
- Typical Requests for Pension Plans
- DOL Requests
- IRS Requests
- Typical Requests for Welfare Plans
What They Are Looking for
- Common Issues for Pension Plans
- Common Issues for Welfare Plans
Common Mistakes
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on February 26, 2018.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Rebecca Dobbs Bush, Esq.
SmithAmundsen LLC
- Partner with SmithAmundsen LLC
- Selected to the Illinois Super Lawyers list of Rising Stars, 2013 - 2017
- Practice emphasizes all aspects of employee benefits and compensation, employment law, government regulation, audit and compliance, staffing agency, independent contractor and contingent workforce, unfair competition counseling and litigation, and wage and hour
- Conducts regular seminars and webinars on numerous employment and labor law topics, including employment contracts, health care reform, employee medical issues, Affordable Care Act, Department of Labor benefits, audit and compliance, and more
- Author of several publications related to the areas of employment law, including SmithAmundsen's Labor & Employment Law Update, a labor and employment advisory blog; Illinois Chamber of Commerce's Chamber Dispatch, an HR advisory blog; and contributing author of the Illinois Employment Law Handbook, Illinois Chamber's most comprehensive publication and reference guide for employers in complying with Illinois and federal labor and employment law
- Member of Illinois State Bar Association, Illinois Association of Defense Trial Counsel, Wisconsin State Bar Association, National Society of Human Resource Management, and American Benefits Council
- J.D. degree, magna cum laude, Northern Illinois University College of Law; B.S. degree, Northern Illinois University
- Can be contacted at 608-412-5106, [email protected], or Twitter® @Dobbslawyer
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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