Blog Post
Benefit Plan Audits – The 80/120 Rule
Administrators of benefit plans, particularly as a plan is growing in participants, often ask themselves each year if their benefit plan must be audited as a result of the Employee Retirement Income Security Act (ERISA).
Under ERISA, “large plans” are required to have an audit of the financial statements. As a general rule, large plans are those with 100 or more participants at the beginning of the plan year, and small plans are those …
