This Employee Benefit Plan Audit Quality Center (EBPAQC) primer provides a basic understanding of the various definitions of compensation that may be used in an employee benefit plan, and how those definitions are relevant to a plan’s operations and the determination of the plan’s tax qualification status.
This primer provides:
an overview of compensation in employee benefit plans
information about the various components of compensation
compensation definitions used in plan documents and for a plan’s tax qualification status
a comparison