When Is An Audit Required For A Retirement Plan?

  1. 4470 POINTS
    Brandon Roberts
    Owner, The Insurance Pro Blog,
    ERISA qualified plans are generally audited annually to ensure compliance against discrimination (being top heavy).  This test makes sure that the plan is not over favoring the companies highest paid employees.  If discrimination is discovered, that funds are returned to highly compensated employees to being the plan back to compliance.
    Answered on August 24, 2013
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