Gray Plant Mooty is pleased to offer an affordable proactive approach to managing employer risk. Our approach to compliance reviews combines our legal expertise and perspective with a practical business viewpoint. We candidly review the strengths and weaknesses of your current practices and policies, identify any risk areas, and provide constructive recommendations. Each compliance review in our series is offered at a customized flat rate with a comprehensive evaluation of your company’s policies, practices, and procedures.
This review is informed by our experience with IRS 401(k) audits and will provide a focus on those areas that are most likely to result in significant liability. A standard compliance review will typically include the following:
- An introductory site visit or meeting with selected business or HR leaders in your organization. An attorney from GPM’s Employee Benefits and Executive Compensation practice group will meet with you to learn about your business needs, your organizational structure, and your current 401(k) plan administrative procedures
- A review of plan documentation and operational procedures
- A written summary and in-person presentation of the results of your compliance review, with specific recommendations tailored to your situation
- A training session for 401(k) plan administrative professionals