Fall 2011 issue of Horizons

Conclusion One of the most important determinations is whether an employer’s 403(b) plan is subject to the requirements of the ERISA. Completing the proper 403(b) plan document is essential to determine how an employer must administer their 403(b) plan. Employers sponsoring 403(b) plans need to better understand their plans and how to operate them effectively so they can comply with all the statutory and regulatory requirements. This has not gone unnoticed by the IRS since plan errors do occur. The IRS has a limited program called

the Employee Plans Compliance Resolution System (EPCRS) which enables employers to remedy certain 403(b) plan errors. Currently EPCRS has limited applicability to 403(b) plans but the IRS has announced that they are working to expand it to include remedies for more 403(b) plan errors. RubinBrown LLP can perform audits of 403(b) plans subject to ERISA. Alternatively, RubinBrown Benefits Group, LLC can assist employers with various administrative aspects of their 403(b) plan if RubinBrown LLP is not auditing the plan.

RubinBrown’s Not-For-Profit Services Group As a recognized leader in the not-for-profit sector, we have the resources essential to serve arts and cultural organizations, foundations, private schools, religious organizations, social service agencies and trade and membership associations.

Judy Murphy, CPA - St. Louis Partner-In-Charge Not-For-Profit Services Group judy.murphy@rubinbrown.com 314.290.3496

Bert Bondi, CPA - Denver Partner Not-For-Profit Services Group bert.bondi@rubinbrown.com 303.799.6826

Chip Harris, CPA - Kansas City Partner Not-For-Profit Services Group chip.harris@rubinbrown.com 913.499.4426

Russ White, CPA - Denver Partner Not-For-Profit Services Group russ.white@rubinbrown.com 303.952.1247

Wayne Isaacs, JD, CPA, CEBS - St. Louis Manager-In-Charge RubinBrown Benefits Group Wayne.isaacs@rubinbrown.com 314.290.3493

www.rubinbrown.com

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