The Department of Labor has released findings from a review ofauditors of employer-sponsored retirement plans, and the news isn’tgood.
The Employee Benefits Security Administration’sstudy “reveals serious issues with the current system,” accordingto a release from the Department.
Of the 7,300 CPAs that audit more than 81,000 benefit plans, theEBSA found that 39 percent of audits contained “majordeficiencies,” putting $653 billion and 22.5 million planparticipants at risk, according to the report.
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