OasisLMS

Part III of the Employee Benefit Plan (EBP) Fundamentals program is made up of three modules which explore mechanisms for ensuring plan integrity and the protection of participant interests including:

• Definition of compensation in 401(k) plans
• Tax and compliance issues relevant to 401(k) plan audits
• Parties in interest and prohibited transactions

Learning Outcomes

• Recognize the definition of compensation used in 401(k) plans
• Recognize the tax and compliance issues relevant to 401(k) plan audits
• Identify parties in interest and prohibited transactions and their role in ensuring the integrity and protection of plan assets and participant’s interests

Key Topics

• Compensation in 401(k) plans
• Plan qualification requirements and implications of noncompliance
• Parties in interest
• Prohibited party in interest transactions, penalties, and exemptions

Who Will Benefit

Auditors who want a foundational understanding of Employee Benefit Plans (EBP) subject to audit under the Employee Retirement Income Security Act (ERISA), and how they differ from commercial entities they audit.