Over time, the systems, policies and procedures you have in place may start to wobble a bit. People start taking shortcuts. New staff didn’t get proper instruction internally and externally. So many changes have taken place that no one even remembers what was in the original contract.
Plug Your Money Leaks & Areas of Risk
Clients frequently hire us to conduct operational reviews and compliance audits across the employee benefit spectrum. We help you:
Ensure plans are operated according to their terms and the law, plan provisions, and ERISA.
Determine the amount and magnitude of variance between observed/actual transaction results and expected transaction results.
Identify opportunities for process improvements that could result in better administration accuracy and/or lower pricing.
Identify key areas to target for improving performance standards
Ensure performance standards are measured according to the contract.
Ensure invoicing matches the contract. (Without exception, this is one of the biggest areas where we frequently find discrepancies.)
Ensure customer service staff and financial advisors are following your set policies and procedures.
You can count on our experts to provide a thorough review in the areas of retirement, health and welfare plans, including actuaries, health care consultants, and ERISA counsel. Our audits frequently uncover significant opportunities for savings.