Meeting the Deadline for New 403(b) Reporting and Audit Requirements
Beth Thompson, Employee Benefits Plan Practice Leader; Linda Hunter, Scott Reed, Cheryl Xystros, and John Hubbe, Audit Partners; Ilene Kassman, Department of Professional Practice Partner; Toby Ruda, Washington National Tax Senior Manager
| Feb. 15, 2010 | 1:00pm ET
Global Enterprise Institute
Under revised U.S. Department of Labor regulations, higher education, health care, and other nonprofit organizations will need to meet new reporting and auditing requirements for their ERISA-covered 403(b) plans. Finance, accounting, and human resource professionals, in particular, must understand how the regulations relate to their plans and have a process in place to capture, document, and assess the plan's operations and financial reporting and to identify and resolve the root cause of any internal control weaknesses, operational errors, or reporting issues.
This Webcast provides action steps to prepare effectively for the change in regulatory requirements. The Webcast addresses changes in the regulatory requirements; enforcement relief provided by DOL Field Assistance Bulletin No. 2009-02; the importance of plan governance in addressing regulatory, fiduciary and reporting requirements; plan compliance matters; the importance of upfront coordination with service providers; financial statement preparation and Form 5500 considerations; and assessing whether operational improvements are necessary.
The Webcast also discusses resources that are publicly available to further inform and support those administering and overseeing your 403(b) employee benefit plan.