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Audits of Pooled Employer Plans (PEPs): SECURE Act's New Flexible Retirement Plan

Documentation, Testing, and Design Considerations; Efficiency and Pricing

A live 110-minute CPE video webinar with interactive Q&A

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Thursday, April 24, 2025

1:00pm-2:50pm EDT, 10:00am-11:50am PDT

Early Registration Discount Deadline, Friday, March 28, 2025

or call 1-800-926-7926
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This webinar will explain pooled employer plans (PEPs) for businesses and accountants considering implementing or recommending this new flexible retirement plan option. Our panel of seasoned retirement plan auditors will cover eligibility requirements for PEPs, design considerations, and differences between PEP audits and other examinations.

Description

Section 101 of the SECURE Act created a new type of multiple employer plan (MEP), the PEP. MEPs allow employers to pool investments and share administrative costs. The Department of Labor requires employers participating in an MEP have a "common interest." Additionally, operational failures of one company in an MEP jeopardizes the tax-exempt status of the entire plan. Congress, hoping to inspire retirement planning, authorized the PEP. The "one bad apple rule" that endangered the plan's status for one member's misstep was eliminated, as was the commonality requirement.

This new plan creates new and unique considerations for audits of PEPs. A pooled plan provider (PPP) administers the plan. Some inquiries will need to be made of the PPP, while others should be addressed to the employers. As with all engagements, the firm must consider independence and whether it has the required expertise and understands the entity as outlined in AU-C Section 315. The creation of PEPs has expanded opportunities for consulting and auditing engagements for employee benefit plan professionals.

Listen as our panel of specialists reviews the distinct requirements of PEPs, including the benefits and caveats of implementing and auditing this new retirement plan type.

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Outline

  1. Pooled employer plans: introduction
  2. Background
  3. PEP audits
    1. PEP audit requirements
    2. Items to consider when bidding on PEP audits
  4. PEP Provider Experiences
    1. What we are seeing in the industry
  5. Audit procedures
    1. Documentation
    2. Testing
    3. Design considerations
  6. Audit consideration
    1. Unique challenges and considerations of PEP audits
    2. Differences between PEP audits and other examinations

Benefits

The panel will review these and other critical issues:

  • Design considerations for PEPs consisting of multiple employers
  • Audit challenges for PEPs and unique items for auditors to consider
  • Which PEPs are required to have an audit
  • Anticipated implementation guidance for administering PEPs
  • Special considerations for Pooled Employer Plan audits

Faculty

Ciminera, Christopher
Christopher Ciminera, CPA, QKA
Principal, Accounting & Auditing
Belfint Lyons & Shuman

Mr. Ciminera is a member of the firm’s Employee Benefit Plan niche in the accounting and auditing services...  |  Read More

Mahmood, Rachel
Rachel Mahmood
Principal
CliftonLarsonAllen

Ms. Mahmood is a Principal with CLA and is solely dedicated to CLA's Employee Benefit Plan...  |  Read More

Attend on April 24

Early Discount (through 03/28/25)

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CPE processing must be ordered prior to the event. See NASBA details.

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Early Discount (through 03/28/25)

CPE credit is not available on downloads.

CPE On-Demand

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