It's not uncommon for employee benefit plan auditors to find errors in the application of a plan’s definition of compensation. However, truly understanding a plan’s definition of compensation is not always straight forward. This session will explore different definitions of compensation that are commonly used by plans, as well as some of the nuances that can make understanding the definition of compensation more challenging.
Recognize various definitions of compensation that are commonly used in plan documents.
Identify common errors found when applying a plan's defintion of compensation to how compensation is calculated.