EBP2220. Digging Into the Definition of Compensation for Auditors + 414(s)

Defining compensation and how to use it is can be one of the most complex issues to tackle in the audit of an employee benefit plan. Using the wrong compensation continues to be one of the most common errors found in plans and can jeopardize the plan’s tax status if not corrected. This session will discuss the most common definitions used in qualified plans, how to apply compensation to plan various operations, common inclusions/exclusions and how to fix a compensation problems.

Learning Objectives:

• Interpret the most common definitions used in plans
• Assess when a definition of compensation must be tested under nondiscrimination testing
• Evaluate the difference between regular compensation and post-severance compensation
• Formulate the definition of compensation in a plan
• Predict common compensation errors and what to do about them