Skip to content
Header Logo

Employee Benefit Plans

An employee benefit plan (EBP) audit has unique characteristics to verify compliance with Department of Labor and ERISA requirements. MHCS has designated specialized EBP experts who routinely complete continuing education and are active members of the American Institute of Certified Public Accountants’ (AICPA) Employee Benefit Plan Audit Quality Center (EBPAQC) and The ESOP Association to be at the forefront of industry changes. Our preciseness can offer valuable insight on where businesses can streamline and save.

At MHCS, we serve a variety of plans including 401(k) plans, employee stock ownership plans (ESOPs), and health and welfare plans including multi-employer welfare associations (MEWAs). We provide a range of services for our employee benefit plan clients, including:

Audit and assurance services:

  • ERISA section 103(a)(3)(C) audits – Previously referred to as limited-scope audits, this type of audit allows plan management to exclude investment information held and certified by a qualified institution from audit procedures.
  • Audits – If your plan doesn’t qualify for an ERISA section 103(a)(3)(C) audit, we can perform full scope procedures for the audit.
Read More

Tax services:

  • Preparation of Form 5500
  • Preparation of Form 990 related to ERISA trusts associated with the plan
  • Other annual compliance forms as required
Read More

Business advisory and consulting:

  • Plan set up consulting
  • Assistance with preparation of annual compliance requirements with the state insurance division for health and welfare plans
  • Advisory services for plan audits
Read More

Meet a member of the EBP audit team:

Jenny Smith

Jenny joined MHCS in November 2009, specializing in ESOPs, multi-employer benefit plans, and closely-held businesses in manufacturing, distribution, and transportation. She is a Certified Fraud Examiner and holds a degree in Accounting from Iowa State University. Jenny serves on the ISU Alumni Association audit committee, is a member of Releve Networking Group and The ESOP Association, and was a 2016 Business Record Forty Under 40 honoree. A graduate of the West Des Moines Leadership Academy and Leadership Iowa class of 2024, she lives in Norwalk with her husband and four children. Jenny enjoys attending Iowa State sporting events, watching her kids' activities, crafting, and baking.