Auditors of employee benefit plan financial statements have new performance requirements. Employee benefit plan administrators and those charged with governance should become familiar with the new requirements.
According to Eric Stevenson, President, Nationwide Retirement Plans, advisors to retirement plans will play a critical role, stating “This is the time they have to be more visible than they have ever been,” said Stevenson. “They have to be in constant communication with plan sponsors, even if from a distance.”