Compensation and Benefits
Plan Design and Consulting Services
WeiserMazars can be retained by the sponsor of a deferred compensation or employee benefit plan as an independent plan consultant. In this capacity, we can assist with plan design, review annual compliance tests and tax reporting, assist the plan sponsor with annual plan data requests, and calculate contribution allocations (such as cross-tested contributions).
- With over two decades of third-party administrator (“TPA”) experience, we can review the calculations, analyses, and reports provided by your TPA.
- We possess the credentials and experiential skills to respond to virtually any technical inquiry in the compensation or benefit plan areas.
- We discuss and analyze the objectives, economics, demographics, and investment approach, and provide analyses of plan designs as directed by management.
- WeiserMazars employs the most modern and current plan designs that may help achieve important benefits for both the business owner and plan participant.
- We can prepare plan documents for defined benefit, defined contribution, and cafeteria plans. In addition, for qualified retirement plans, we can submit the plan document to the Internal Revenue Service (“IRS”) with the goal of obtaining a favorable letter determination
Section 409A Deferred Compensation Plan Design and Review
New rules enacted in 2004 can cause executives in non-qualified deferred compensation plans (“NQDCPs”) to have income recognition accelerated and subjected to substantial additional taxes and penalties. We can:
- Design and implement NQDCPs that achieve corporate objectives within the constraints of Section 409A
- Review your existing documents and analyze its provisions for compliance.
- Design methods of repairing or eliminating any defects
- Work with your legal counsel to provide the requisite language and provisions that the NQDCP should contain.
Given the powerful tax and economic benefits of compensation and employee benefit plans, the government constantly reviews the operational and documentary compliance with the rules. Both the IRS and the Department of Labor (“DOL”) have the authority to enforce lengthy and complex rules. To avoid making an easy mistake, our professionals can assist by offering:
- Very broad experience in representing plans and their sponsors when under audit by the IRS or DOL
- Skill and knowledge to use the IRS’ Voluntary Compliance programs to help seek the reduction or elimination of potential negative consequences when defects in a plan’s operations surface
- Expertise in dealing with the DOL to aid in repairing late filings of Form 5500 under the Delinquent Filer Voluntary Compliance program
Retirement and Deferred Compensation for Tax-exempt and Governmental Employers ("TE/GE")
The maze of benefit plans and the complexities of their operation make designing plans for TE/GE ripe for opportunities yet fraught with traps for the unwary. WeiserMazars will listen and understand management objectives for implementing a plan in order to select the right program or combination thereof. We can:
- Analyze the economics of each program to develop the budgetary constraints
- Design and implement the desired program
Mergers, Acquisitions (M&A) and Corporate Transactions
Our experience in M&A work spans more than two decades. We perform a thorough analysis of all related benefit plans and assist with making business decisions based on current facts, alternative approaches to calculations, and tax and economic implications.
- Our due diligence review can point out whether the economics of a deal are represented accurately or if a purchase price adjustment might be needed
- In addition, WeiserMazars can assist in determining whether each plan is technically and operationally in compliance