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Employer Deductibility

Ascensus Consulting is an independent third-party administrator that performs required compliance testing and non-discrimination testing for tax qualified defined contribution, defined benefit, and cash balance plans to help ensure that employers are following the rules and laws set forth by the Internal Revenue Service and the Department of Labor.

The compliance tests help verify that contributions are being allocated properly and in a timely manner. The non-discrimination tests help ensure that the plan does not discriminate in favor of highly compensated employees.
 
The consequences for employers that are not in compliance, intentionally or not, are severe and could include heavy civil or criminal penalties imposed by the Internal Revenue Service or Department of Labor.

The Employer Deductibility Test verifies whether the amount deductible for a taxable year exceeds 1) for a defined contribution plan, a specific percentage of the total aggregate compensation paid to participating employees in the taxable year and 2) for a defined benefit plan, actuarially calculated limits.

Contact us for more information on compliance testing.