We look at the bigger picture.

 

Designing and administering a qualified plan is challenging due to the complex rules and guidance that must be followed. To complicate matters, there are often thousands of calculated transactions each pay period. The qualified plan professionals at CBS can help you to understand these rules and assist with the transactions. We provide our clients with the guidance and direction necessary to comply with the numerous legislative and regulatory rules governing employee benefit plans. This is the cornerstone CBS’s retirement plan consulting practice. Our experience and technical expertise enables us to offer the highest quality advice available.

For more information on other services see below:

  • IRS and DOL Correction Program Assistance
  • IRS and DOL Examination Representation
  • Retirement Plan Testing & Design
  • Vendor Search and Evaluation Services
  • Employee Benefit Plan Financial Statement Preparation Assistance
  • Operational reviews (Mock IRS and/or DOL examination)
  • IRS and DOL Correction Program Assistance

    The CBS retirement plan specialists provide qualified retirement plan correction services under both the IRS and DOL voluntary correction programs. The IRS and DOL have provided various correction programs in order to encourage plan sponsors to proactively correct qualified retirement plan failures. With this in mind, we have designed our services to minimize your organization’s risk while enhancing the cost-effectiveness of correcting qualified retirement plan failures. CBS also will serve as a partner through IRS and DOL examinations in order to manage the process and reduce the financial and administrative impacts.

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  • IRS and DOL Examination Representation

    Let’s face it, receiving notice of an IRS audit or DOL investigation concerning an employee benefit plan (including retirement, executive compensation, and health and welfare plans) can be intimidating. In our experience, plan sponsors are typically caught unaware and off-guard. We often represent our clients to alleviate the daunting task of working through the process. During an examination, we look at the operation of our clients’ plans to identify process improvements that align industry best practices and enable improved operational efficiency going forward.

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  • Retirement Plan Testing & Design

    CBS has dedicated experts to perform and advise on nondiscrimination testing for qualified retirement plans, including defined contribution and defined benefit plans, as well as health and welfare plans. The nondiscrimination testing services address two critical areas of plan management, compliance and planning.

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  • Vendor Search and Evaluation Services

    Conducting a vendor search can be a very detailed and time intensive process. If an organization’s vendor search results in the selection of a new vendor the change can disrupt the day to day administration. CBS will partner with the organization to serve as a guide through the vendor search purposing to achieve the results you want.

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  • Reporting Assistance

    CBS prepares and files numerous governmental forms for our clients each year. We are well versed in the issues necessary to meet your benefits related compliance needs. Our approach to assisting clients with their reporting needs is comprehensive. Our approach does not involve merely taking in information and data-entering it into a software system to produce a draft return. Our team performs comprehensive reviews of the financial data and underlying plan document to ensure that returns are being prepared accurately.

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  • EBP Financial Statement Preparation Assistance

    For many plan sponsors, outsourcing the preparation of their employee benefit plan financial statements, including the supporting trial balances and schedules, is an efficient way to ensure their financial statements comply with the reporting and disclosure requirements applicable to benefit plans. In addition, for 11-K filings, the SEC independence rules specifically prohibit the plan auditors from compiling financial statements as part of the 11-K audit engagement. CBS can assist with compiling the financial statements and work hand-in-hand with your benefit plan auditors to help ensure a smooth audit. Our focus and experience enable us to provide process-improvement suggestions, and insight as to best practices.

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  • Form Preparation

    For organizations, one of the most overwhelming duties of the administration of a qualified plan is the governmental form preparation and filing. The CBS team are experts on the review and preparation of necessary plan forms and will ensure that they are prepared and filed correctly with the IRS and the DOL.

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  • Operational Review

    The IRS and DOL focus on an organization’s plan’s operating policies and procedures, compliance and reporting controls. Specifically, the IRS has its sights on the internal controls of your plan. CBS works with a company to ensure sound fundamental internal controls in the operation of retirement plans, as they are essential fiduciary and compliance requirements.

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