• Self Audit Home
• What to expect
• What you will need
• Instructions
• Step 1 Eligibility
• Step 2 Reporting
• Questionnaire

• Step 1 Eligibility
  • A) Verifying employees who are eligible for membership
    • 1 Compile a list
    • 2 Use the appropriate tools
    • 3 Determine if any employees are independent contractors
    • 4 Determine if any employees are retirees
    • 5 Determine if any employees are substitutes
  • B) Determining employees who are not eligible for membership
    • 1 Compile a list
• Step 2 Reporting
  • A) General Reporting
    • 1 Select your test sample
    • 2 Complete a worksheet
    • 3 Verify reportable compensation for your retirement plan
    • 4 Identify lump sum payments
    • 5 Identify excess compensation
    • 6 Verify correct reporting of cash outs for active employees
    • 7 Verify correct reporting of cash outs for retiring employees
    • 8 Research discrepancies and make corrections
  • B) Reporting Retirees Returning To Work
    • 1 Verify that retirees returning to work are reported correctly
    • 2 Frequently asked questions about retirees returning to work
  • C) Reporting Substitutes
    • 1 Verify correct reporting of substitutes
    • 2 Substitutes in school districts or educational service districts
    • 3 Retirees working as substitutes

Step 2 Reporting

Verify that reportable compensation, excess compensation, cash outs, and lump sum payments are reported using the correct transmittal codes. Also verify that compensation is reported as earned, rather than as paid.

Reporting looks at whether:

• both compensation and hours or days are reported as earned;
• allowable compensation is included;
• compensation is reported by the correct codes, and;
• excess compensation is reported.