Employee Benefits Plans

An important factor in selecting an accounting firm is their reputation among the clients it serves. Our Firm is proud of the support we receive from our clients and the reputation we have earned and maintained throughout our 55-year history.

"Hochschild, Bloom & Company LLP has handled our multi-employer collectively bargained pension plan for 40 plus years and has always been responsive to the needs of the Trustees. We have always counted on them to assist and advise us on accounting and reporting requirements."

Kenneth Truemper, President
Graphic Communications International Union Local 6-505M

Our Qualifications and Experience

As we have developed our practice over the years, we have identified certain niches that enable us to enhance the service we provide to our clients as a result of the expertise and experience we have acquired in working with our clients and the training we have provided to our personnel.

The following are some indicators of the expertise developed in meeting the Employee Benefit needs of our clients:

• We currently perform over 40 annual audits of Employee Benefit Plans as required by ERISA or the provisions of Section RSMo 105.661.
• The plans we audit have in excess of 10,000 employees and more than $1 billion in assets in the aggregate.
• We provide Employee Benefits advice and assistance for clients, from a sole practitioner to an organization with more than 2,500 employees.
• We perform Employee Benefit audits for a wide range of clients, including corporations, labor unions and public employee plans.
• We have four senior personnel in the Firm who have substantial experience with Employee Benefit Plans with aggregate experience of more than 100 years, including a person who is both a lawyer and a CPA.
• We have assisted our clients in the design and preparation of employee and trustee manuals.
• We provide compliance services including the preparation of annual Form 5500.
• We have also performed plan operational reviews and plan discrimination testing.

Regulatory Issues

Penalties may be assessed by the U.S. Department of Labor if it conducts an examination and determines that ERISA violations have occurred. Personnel issues involve compliance with U.S. DOL, IRS, ERISA and PWBA requirements. How much time do you want to spend learning about and dealing with these regulatory issues?

Unless structured appropriately under certain guidelines, some distributions are potentially subject to 20% withholding and a 10% excise tax. We can help clients structure benefit withdrawals to minimize these costs as well as the income and estate tax impact.

"We have always been able to rely on Hochschild, Bloom & Company to provide effective advice on our pension and other employee benefit plan needs."
Doug Riley, Corporate Controller
Meramec Group, Inc.

"Our Board was extremely satisfied with the quality of the Trustees policies and procedures manual developed and finalized by our audit firm, Hochschild, Bloom & Company."
Stephen Olish
Police Retirement System of St. Louis

Rita Griesheimer is the leader of the Employee Benefits practice group for our Firm. She has over 25 years experience in designing and implementing efficient and tax effective benefit plans, as well as managing the annual audit of numerous retirement and welfare plans. Please call Rita on 636.239.4785 for more information.