401(k) Plan Audits: Truth vs. Myth - Rebroadcast

The main focus of our conversation is determining if some common employer beliefs about retirement plan audits are truth or myth. John also pulls from his experience auditing well over 100 retirements plan each year to offer some tips to employers who are preparing for their first audit and best practices for some grizzled veterans to help their audit run smoothly. Guest Bio My guest today is John Russon, a retirement plan auditor and founder of Pension Assurance, a single purpose audit firm that specializes in auditing qualified retirement plans.  In 2005, after spending several years working at both "Big Four" and local CPA firms, John launched a small, independent practice dedicated to the audit of retirement plans. This fledgling practice was merged with a local CPA firm in 2006. Over the next seven years, the practice grew substantially. In 2007, the practice performed he formed Pension Assurance.  As of early 2016, John and his firm audit over 170 retirement plans.  According to the recent Department of Labor study, this puts them in the top 2% of firms that audit retirement plans.  This also gives them great perspective on what is happening in the marketplace. 401(k) Fridays Podcast Overview Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your workplace retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over eighty prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!