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Employee Benefit Plans Conference 2019


EBP1968 - Both Direct and Indirect DB Pension Costs Need Audit Attention - Presented by Pacific Life


May 8, 2019 9:45am ‐ May 8, 2019 11:00am

Standard: $49.00

Description

Many of the 20,000 organizations with private sector defined benefit (DB) plans do not understand the full cost they are incurring to maintain these plans. As fiduciaries, CFOs who sponsor DB plans are responsible for ensuring both direct and indirect costs incurred by the plan are reasonable. Auditors may just be looking at the direct costs that are easily observable and simply comparing them to past years for reasonableness. DB plan sponsors need their accountants and auditors to also bring these indirect costs to their attention and help to determine if they are reasonable by comparing both direct and indirect costs to the market. From and organization perspective, executives should be asking if continuing these costs are consistent with their objective to maximize organization value. This session will provide you tools to identify and measure those costs and give you solutions to help your organization or client reduce or eliminate those costs and risks.

  • Identify and measure the direct and indirect costs related to maintaining a DB plan.
  • Recall available solutions to help your organization or client reduce or eliminate those costs and risks.

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