EBP1968. Both Direct and Indirect DB Pension Costs Need Audit Attention - Presented by Pacific Life

Track: 
Accounting & Auditing
Field of Study: 
Auditing
Accounting
CPE Credit: 
1.5
Knowledge Level: 
Basic
Advanced Preparation: 
None

Wednesday, May 8, 2019
 
9:45AM-11:00AM

Many of the 20,000 organizations with private sector defined benefit (DB) plans do not understand the full cost they are incurring to maintain these plans. As fiduciaries, CFOs who sponsor DB plans are responsible for ensuring both direct and indirect costs incurred by the plan are reasonable. Auditors may just be looking at the direct costs that are easily observable and simply comparing them to past years for reasonableness. DB plan sponsors need their accountants and auditors to also bring these indirect costs to their attention and help to determine if they are reasonable by comparing both direct and indirect costs to the market. From and organization perspective, executives should be asking if continuing these costs are consistent with their objective to maximize organization value. This session will provide you tools to identify and measure those costs and give you solutions to help your organization or client reduce or eliminate those costs and risks.

Learning Objectives:

  • Identify and measure the direct and indirect costs related to maintaining a DB plan.
  • Recall available solutions to help your organization or client reduce or eliminate those costs and risks.


SESSION SPEAKER(S)

Sr. Director | Pacific Life Insurance Company
Managing Director | BCG Penbridge
Director, Retirement Solutions Division | Pacific Life Insurance Company