Case Study: ERISA & 5500 Compliance

Enterprise Iron Financial Industry Solutions, Inc.
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BUSINESS PROBLEM

A large Financial Services firm and provider of retirement recordkeeping services needed to adhere to ERISA & 5500 Compliance requirements after converting some plans from contract-base to plan-base reporting.

The transactions from these converted plans had to be pulled and mapped to the old reporting system in order to produce the 5500 reports.

OUR SOLUTION

Our Team provided an assessment of their conversion from contract-base to plan-base reporting by highlighting opportunities to change or improve their operational procedures and customized retirement services tools.

We provided an assessment of their reporting capability that focused on their plan-base reports, identifying and mapping the sources for the information required to improve ERISA & 5500 Compliance.

RESULTS & CLIENT BENEFITS

As a result of working with Enterprise Iron, our client was able to implement robust controls and improve their ERISA & 5500 Compliance in the plan-base reporting.

This was critical for stabilizing compliance risk after the migration.

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