Please Note: This session is part of the A&A Fundamentals sessions and facilitators have asked that attendees bring a laptop computer in order to fully participate in these sessions.
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.
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