Monitoring of recordkeeping and reporting plan advisory
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Monitoring of recordkeeping and reporting plan advisory

2 years ago · 802.1 KB Download

This Employee Benefit Plan Audit Quality Center (EBPAQC) advisory provides the plan sponsor, administrator, or trustee, with an understanding of the importance of properly maintaining plan records, including retention requirements under the Employee Retirement Income Security Act of 1974 (ERISA) and your responsibilities for protecting personally identifiable and other sensitive information.

This advisory describes:

  • ERISA and DOL record retention requirements

  • protecting personally identifiable information

  • the effect of inadequate records on audit scope and testing and the auditor’s report

  • implications to the plan administrator for failure to properly retain records

The advisory also provides suggestions for best practices for record retention and data protection and additional resources.

Download the The Importance of Retaining and Protecting Employee Benefit Plan Records

File name: ebpaqc-plan-advisory-retaining-and-protecting-plan-records.pdf

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