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Malin Bergquist’s Employee Benefit Plan Group provides comprehensive audit and consulting services to employers that offer benefit plans.  Our in-depth knowledge and experience in this industry assist clients in managing the risks and fiduciary duties of administering their employee benefit plans.

Malin Bergquist performs more than 60 plan audits for clients each year. We have assisted many clients in determining the appropriate corrections needed to maintain their plan’s compliance with Internal Revenue Service (IRS) and Department of Labor (DOL) regulations. Some examples include delays in remitting participant contributions, participant entry and eligibility errors, and incorrect determinations of eligible compensation.

The Need – While once widely viewed as simply a compliance requirement, the enhanced DOL oversight and increasing litigation against plan sponsors highlight the importance of having a quality audit performed. Auditing these types of plans is very specialized, requiring a depth of knowledge and expertise beyond a financial statement audit.

Audit and Assurance Services – Malin Bergquist’s team has decades of experience, including all types of defined contribution and defined benefit retirement plans and health and welfare plans.  Our team is up-to-date on the regulatory and professional standards and delivers reliable and accurate information for preparation of summary annual reports and management of plan administration.

Quality Standards – When randomly selected for review by the DOL, all of the plans we have audited have been found to be “clean.” Through our membership in the Employee Benefit Plan Audit Quality Center of the American Institute of Certified Public Accountants, clients know that our team understands all of the latest regulatory developments, best practices guidance and technical updates. We adhere to the Center's requirements by designating a quality partner responsible for this practice firm-wide, establishing quality control programs, performing annual internal inspection procedures, making our firm's peer review report findings publicly available, and providing the additional continuing education required by center membership.

Consulting Services - Malin Bergquist also provides consulting services to all sizes and types of employee benefit plans in the following areas.

• Assistance with selection, adoption and maintenance of retirement and welfare benefit plans;
• Assessing goals, preferred cost structure and workforce profile to determine plan effectiveness;
• Identifying compliance issues within clients’ plans and assessing and preparing appropriate corrections

For more information, contact Vincent F. Halupczynski, leader of the firm's Employee Benefit Plan Audits and Consulting niche, at 814.454.4008 or at vhalupczynski@malinbergquist.com.