Data Analytics in EBPs and Beyond

May 4, 2021 12:00pm ‐ May 4, 2021 12:50pm

Identification: EBP2136

This session will touch on the concept of applying audit data analytics and the various elements that need to be considered within an EBP audit. We will discuss how to better utilize Excel to streamline the audit as well as explore more advanced concepts which heavily rely on increased usage of data within an audit.
Learning Objectives:
  • Illustrate how to maximize the potential of Excel within an EBP audit
  • Discover the requirements and considerations necessary when deploying audit data analytics
  • Demonstrate how you can improve efficiency and effectiveness within your EBP audits
Category: Concurrent Session Online

Overview of Unrelated Business Income for Benefit Plans

May 4, 2021 12:00pm ‐ May 4, 2021 12:50pm

Identification: EBP2137

The tax on unrelated business income (UBI) presents unique challenges for employee benefit plans. This session will provide an overview of Unrelated Business Taxable Income in benefit plans. During this session, we'll discuss UBTI related to alternative investments for benefit plans. Additionally, we'll discuss the Qualified Asset Allocation Limitation calculation for certain health and welfare plans which also could result in UBI.

After this sessions, participants will be able to
Learning Objectives:
  • Identify what Unrelated Business Taxable Income (UBTI) is
  • Recognize what generates UBTI within benefit plans and related trusts
  • Identify key filing requirements related to UBTI for benefit plans and related trusts
Category: Concurrent Session Online

Everything You Ought to Know About Distributions and Plan Expenses

May 4, 2021 12:00pm ‐ May 4, 2021 12:50pm

Identification: EBP2138

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)
  • Revisit the risk assessment of relevant assertions and the planned audit procedures of the case study
  • Evaluate sampling and testing procedures for distributions (including vesting and forfeitures), participant loans, and hardships utilizing examples from the fundamental track case study
Category: Concurrent Session Online

Leaders Share Their Secrets to Success

May 5, 2021 6:00am ‐ May 5, 2021 7:15am

Identification: EBP2142

This session will focus on tips and advice from the careers of current and former EBP leaders. Attendees will receive advice and guidance to help you as you advance in your career in benefit plans in public accounting. Advice will include how to navigate your career to be successful and how to be mentored. Enjoy some fun stories and learn some great tips along the way.

After this session, participants will be able:
Learning Objectives:
  • Determine one key change to make to build a successful career
  • Apply ways to develop meaningful relationships
  • Identify effective tools to broaden your soft skills to further enhance your career
Category: Concurrent Session Online

Current audit considerations for multiple-employer plans

May 5, 2021 6:00am ‐ May 5, 2021 7:15am

Identification: EBP2143

This session will discuss best practices for auditing multiple-employer plans (MEPs). This session will differentiate between different types of MEPs and unique audit considerations for each. The panel will discuss the changes to the MEP landscape due to the SECURE Act and possible audit considerations for pooled employer plan (PEP) types. The panel will include speakers from both the auditor perspective and a PEP plan service provider perspective.
Learning Objectives:
  • Identify operational and compliance aspects that are specific to MEPs that may impact your audit procedures
  • Review impact of PEP rollouts in 2021 and specific audit considerations for these plan types
  • Discuss best practices for MEP audits by type, including PEP's, PEO sponsored MEPs and other MEP types.
Category: Concurrent Session Online

Common Investments in Employee Benefit Plans

May 5, 2021 6:00am ‐ May 5, 2021 7:15am

Identification: EBP2144

This session provides an overview of investments commonly held by defined contribution plans and focuses on investment testing and disclosures relevant to the fundamentals track case study.
Learning Objectives:
  • Identify the key characteristics of various investments commonly held in plans, including insurance products, common/collective trust funds, pooled separate accounts, mutual funds, and self-directed brokerage accounts.
  • Revisit the risk assessment of relevant assertions and the planned audit procedures of the case study
  • Evaluate sampling and testing procedures utilizing examples from the fundamentals track case study for investments and investment income
  • Discuss some of the unique financial reporting requirements for investments
Category: Concurrent Session Online

Understanding Actuarial Reports, Valuations and Assumptions

May 5, 2021 7:30am ‐ May 5, 2021 8:45am

Identification: EBP2145

This session will introduce actuarial valuations and actuarial reports, including how to audit inputs to a valuation (e.g. data, assumptions, etc. ) and interpret the outputs of a valuation.
Learning Objectives:
  • Recognize the actuarial valuation process including inputs and outputs
  • List different types of actuarial reports
  • Identify the many uses of actuarial reports including funding, benefit limitations, financial reporting, etc.
  • Identify and understand key actuarial assumptions
Category: Concurrent Session Online

Overview of Form 990-T and Form K-1

May 5, 2021 7:30am ‐ May 5, 2021 8:45am

Identification: EBP2146

This session will provide practical guidance for reviewing Form K-1. As part of reviewing the Form K-1, we will discuss common errors on the K-1 and when follow up may be necessary. We will discuss how the information on the K-1s flow into the Form 990-T. Lastly, we will go over an example Qualified Asset Allocation Limitation calculation for a health and welfare plan.

After this sessions, participants will be able to
Learning Objectives:
  • Identify investments that may lead to UBTI
  • Determine how to read a Form K-1
  • Translate information from a Form K-1 to the Form 990-T and related attachments
Category: Concurrent Session Online

Multiemployer Plans - Annual Update and Considerations

May 5, 2021 7:30am ‐ May 5, 2021 8:45am

Identification: EBP2147

As the new chapter for multiemployer plans in the AICPA's Employee Benefit Plan: Audit &; Accounting Guide is nearing completion, attend this session for an exclusive preview of the accounting, auditing and reporting guidance that will be included in the chapter. This session will also payroll compliance auditing and an update on current multiemployer plan developments.
Learning Objectives:
  • Review the enhanced guidance that will be included in the EBP Audit & Accounting Guide and how it will effect your multiemployer audits
  • Gain an understanding of the unique requirements of payroll compliance audits when used as audit evidence in a multiemployer plan audit.
Category: Concurrent Session Online

Successful Strategies for How to Get Money Out of a Plan

May 5, 2021 7:30am ‐ May 5, 2021 8:45am

Identification: EBP2148



During this session we will provide an in-depth look at retirement plan loans and distributions including the tax ramifications, the documentation a plan sponsor must retain, and common distribution errors found in practice. We will also discuss technical updates affecting plan loans and distributions.
Learning Objectives:
  • Recognize the various types of retirement plan distributions and analyze the tax ramifications
  • Identify the records that plan sponsors should maintain and understand the rules for locating missing participants
  • Explore the effects of recent legislation, including the SECURE Act and CARES Act, on retirement plan distributions
  • Recognize common distribution errors and how to respond
Category: Concurrent Session Online