Employee Benefit Plans

McKonly & Asbury’s team is aware of the challenges that employee benefit plans present to employers. Our employee benefit professionals possess the experience and expertise to assist with ERISA and IRS compliance, reporting requirements, and regulations that can impact employee benefit plans. Our team is extremely knowledgeable regarding subjects that are important to the Department of Labor, IRS, and the American Institute of CPAs (AICPA).

Our goal is to provide quality service with minimal distraction to your organization. Our employee benefit plan team provides a wide array of services, including, but not limited to audits. Discover how your organization can benefit from our broad knowledge and experience.

Highlights of our dedicated team of professionals:

• Extensive experience with employee benefit plans ranging from 100 to over 10,000 participants and plan assets exceeding $500 million.
• Our team has conducted hundreds of employee benefit plan audits, including 401(k), 403(b), defined benefit, ESOP, as well as health and welfare plans.

Employee Benefit Plan Audit and Consulting Services:

• Non-ERISA Section 103(a)(3)(C)
• ERISA Section 103(a)(3)(C), in accordance with Department of Labor regulations
• Consultation regarding Department of Labor regulations
• Electronic data analysis and extraction to assist with compliance with DOL and IRS regulations
• Recommendations on improving the administration of your plan
• Ongoing updates and alerts on changes that may impact your plan
• Assistance with self-corrections

We offer full-service financial statement audit services for the following plan types:

• 401(k)
• 403(b)
• Defined Benefit
• Employee Stock Ownership Plans (ESOP)
• Health and Welfare Plans

Our services extend well beyond financial statement audits. Our team also offers:

• Data extraction and analysis
• Audit readiness consultations
• Calculation of plan compensation and participant deferrals
• Financial statement preparation