EBP2346. Everything You Ought to Know About Distributions and Plans Expenses

This session will provide an overview of distributions and common errors in a defined contribution plan and will focus on the testing of distributions and plan expenses for the fundamentals track case study.

Learning Objectives:

• Identify the various types of distributions (retirement, rollovers, hardships, loans, etc.), vesting and forfeitures, as well as the different forms of payment (lump sum, annuities).
• Recall the risk assessment of relevant assertions and the planned audit procedures of the case study.
• Indicate sampling and testing procedures for distributions (including vesting and forfeitures), participant loans, and hardships utilizing examples from the fundamental track case study.