Employee Benefits and Retirement Plans Group

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Cottrill Arbutina provides comprehensive audit and consulting services to employers who provide a retirement benefit plan to employees, specifically defined contribution plans, 401(k) and  403(b) plans, and health and welfare plans.  Our knowledge and experience in this industry assists clients in managing the risks and fiduciary duties of administering their plans and allows us to offer helpful, practical suggestions.

 

Our experience helps us identify plan operating issues and the steps needed to maintain compliance with the Internal Revenue Service (IRS) and Department of Labor (DOL) rules and regulations in conjunction with a review of the established plan guidelines.  Some examples where we can help include the handling of participant contributions, participant loans, and eligible compensation, the basis of many plan calculations.

 

Why a Plan Sponsor Needs Assistance – As companies grow and their operations change, there typically is a need to change the plan’s parameters. With these changes, as well as increased oversight by the DOL and growth in litigation against plan sponsors, it is important that sponsors understand what is required, especially if a plan audit is needed. These types of audits are highly specialized, requiring a depth of knowledge beyond the traditional financial statement audit.

 

Audit and Assurance Services – Cottrill Arbutina has experience in plan audits, including all types of defined contribution and health and welfare plans.  Our team stays up-to-date on the regulatory and professional standards and delivers reliable and accurate information for preparation of summary annual reports and management of plan administration.

 

Specialty Areas:

  • Auditing and Assurance Services
  • Preparation of Required IRS and DOL Filings
  • Representation in Dealing with the IRS/DOL
  • Consultation on Plan Selection and Design (working with third-party design specialists)
  • Plan Administration and Accounting
  • Design/Implementation of Internal Controls
  • Plan Compliance Issues and Resulting Corrections
  • Assist the Sponsor with Plan Administration

 

Quality Standards – We strive to understand all the latest regulatory developments, adhere to the best practice guidance and technical updates in providing services to the plans.  Our membership in the American Institute of Public Accounts (AICPA) gives us access to recent developments and the most recent audit standards. Our internal requirements require a quality partner responsible for this practice firm-wide, establishing quality control programs, and adhering to our internally established quality control practices.

 

Consulting Services – We provide assistance as needed in operating the retirement plan once it is in place, including:

  • Assistance with the maintenance of retirement and welfare benefit plans
  • Participant contributions and the plan sponsor’s responsibility
  • Utilizing third parties to administer the plan and identifying the sponsor’s responsibilities
  • Identifying compliance issues within clients’ plans and assessing and preparing appropriate corrections.

 

Contact group leader Lawrence Zahn, CPA for more details.

State Resident Acknowledgement

No information provided on this site is intended to constitute an offer to sell or a solicitation of an offer to buy shares of any security, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under securities laws of such jurisdiction.

 

Registered Representatives of LPL Financial whose identities and associations with Cottrill, Arbutina Wealth Management Group, LLC are disclosed on this site may only discuss securities or transact business with persons who are residents of the following states:

 

Arizona - Arkansas - California - Colorado - District of Columbia - Florida - Georgia - Iowa - Kansas - Maine - Maryland - Massachusetts - Michigan - Missouri - Nebraska - New Jersey - New York - North Carolina - Ohio - Pennsylvania - South Carolina - Texas - Virginia - Washington - West Virginia

 

Securities offered through LPL Financial, Member FINRA/SIPC.