The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily-established pension and health plans in private industry. It is in place to provide protection for individuals who participate in these plans.

As such, small businesses that offer employee benefit plans must be sure that their plans meet the requirements of ERISA. To ensure that the plans do meet ERISA requirements, the Department of Labor’s Employee Benefits Security Administration (EBSA) is the agency responsible for making sure that plan audits, which are conducted by CPAs, are properly conducted. And, according to Jeff Hadden, a partner with LHD Benefit Advisors, “It’s not a matter of if you’re ever going to get audited; it’s a matter of when.”

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.