ODMD has the experience and expertise to provide services tailored to your organization’s specific needs in the form of:

• Audits of financial statements with DOL required schedules (full and limited scope)
• Preparation of employee benefit plan forms; Form 5500, 8955-SSA, 5330, required Schedules and Summary Annual Reports
• Computer systems reviews and recommendations
• Correction of all types of retirement plan defects by providing guidance for the self-correction process or through an application to the IRS and/or DOL which includes identifying the plan defects and desired corrections
• Compliance reviews of the operations for all types of employee benefit plans (retirement, cafeteria, fringe benefits, equity plans)
• Preparation/review of nondiscrimination testing for employee benefit plans
• Representation of employee benefit plans on examination by the DOL/IRS/PBGC
• Assist with the evaluation, design and implementation of retirement plans (qualified and nonqualified deferred compensation)
• Benefits consulting
• Drafting of plan amendments for employee benefit plans (e.g., 403(b), premium–only, cafeteria plan) and resolution to adopt amendment
• Cost allocation studies for shared expenses
• Review nonqualified deferred compensation plans (409A, 457) for compliance with the ‘form’ of the plan document and the various tax, withholding and employment tax rules and related reporting
• Field audits of member companies in multi-employer plans
• Submission of IRS determination letter requests for qualification and termination of qualified retirement plans
• Internal control and operational procedures reviews
• Investment manager performance reviews
• Investment policy compliance monitoring
• Review, design and implementation of record retention policies
• Attendance at trustee meetings and presentations to Board of Directors
• SAS70 service auditor reports
• Analyze the interaction and coordination of the employer’s payroll processes with the employee benefits offered by the employer.