Many nonprofits who sponsor ERISA 403(b) plans are not aware that they need an audit, because counting participants involves much more than knowing how many full-time employees the organization has or how many account balances are in the plan.
Author Archives: Maria T. Hurd, CPA
In a time when nonprofit organizations are facing higher demand for their services with fewer financial resources available to them, maintaining compliance with the ever-changing landscape of regulatory requirements is becoming increasingly difficult.
Posted by Maria T. Hurd, CPA With the changes that are taking effect within the nonprofit community related to retirement plans, the US Department of Labor (DOL) has added a web page focusing on 403(b) retirement plan compliance. Nonprofit entities, such as public schools, hospitals and churches, can offer their employees the opportunity to save for retirement with pretax dollars, … Continued