401k Plan Audits – Lexington (KY)
Many Lexington and Kentucky companies offer a retirement plan to provide employees with an opportunity to build retirement savings over their careers. While an important benefit option and savings tool, there are several regulations from both the IRS and the Department of Labor (DOL) which must be followed. While compliance for small plans (less than 100 employees) is easier to navigate, large plans (more than 100 participants) face far more complex regulations. As outlined in the Employee Retirement Income Security Act (ERISA) large plan sponsors are required to undergo an annual plan audit. These audits provide assurance to plan management and participants about the financial condition of the plan.
Kentucky 401(k) Plan Audit Experience
Keiter CPAs provides employee benefit plan audit services to businesses in Lexington and across Kentucky. We audit over 100 employee retirement plans of various sizes including those sponsored by publicly held companies. Our team has significant experience addressing the audit needs of defined benefit and defined contribution plans including 401(k) and 403(b) plans. Our services extend to both full-scope audits and the new ERISA Section 103(a)(3)(c) audit which replaces the limited scope audit type.
Lexington ERISA Audit Services
- Limited & Full Scope Audits
- DOL Form 5500 Preparation
- Audits Requiring an SEC Form 11K Submission
- Defined Benefit & Defined Contribution Plans
- SAS 136 Compliance Including the New ERISA Section 103(a)(3)(c) Format
- Plan Mergers, Acquisitions & Spinoffs
- ERISA Compliance Issues
Map of Lexington (KY) – 40507
About Lexington (KY)
Lexington, Kentucky, is known for its strong and diversified business community that combines traditional industries with emerging sectors. Often referred to as the “Horse Capital of the World,” Lexington’s economy has deep roots in the equine industry, with world-renowned horse farms, racing facilities, and breeding operations contributing to both the local economy and global markets. This industry supports a wide range of related businesses, including veterinary services, equine products, and hospitality, which are vital to the city’s economic health.
Beyond the equine sector, Lexington has a growing presence in other industries such as healthcare, education, and technology. The University of Kentucky, located in the city, plays a central role in shaping the local business environment, not only as an educational institution but also as a research powerhouse. Its medical and technological innovations have led to the growth of a strong healthcare sector, with hospitals, research facilities, and biotech companies providing numerous employment opportunities. The city’s healthcare infrastructure, supported by institutions like UK HealthCare, attracts talent and investment in areas such as medical devices, pharmaceuticals, and health technology. The area code used in Lexington (KY) is 859.