Labor Unions

Make informed decisions with the financial insights needed to take care of your labor union operations and members.

Stay Ahead of Industry Regulations

Labor unions face a unique set of operational and regulative challenges. Our labor union team stays on the pulse of evolving IRS and Department of Labor regulations, ensuring all of your funds are compliant so you can focus on your members.

Labor Union Service Offerings

Through our deep industry expertise and hands-on approach, our labor union team brings the practical advice you need to build long-term success.

Taft-Hartley Multi-employer Benefit Plan Audits

Navigating the demanding requirements of ERISA is a challenge all Taft Hartley multi-employer plans face. Our advisors stay on top of evolving regulations and develop insights multi-employer plans need to strengthen internal controls and identify areas to improve operations through audits of all types of funds, including:

  • Defined Benefit Pension
  • Defined Contribution Retirement
  • 401(k)
  • 401(a)
  • Health and Welfare
  • Money Purchase Pension
  • Vacation, Holiday, and Apprenticeship and Training Funds
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Taft-Hartley Multi-employer Payroll Compliance Audits

Ensuring that employers are contributing and reporting payroll for covered employees is vital to labor unions. Our advisors perform extensive payroll compliance audits so trustees can meet their fiduciary responsibility and members receive appropriate benefits. By combining our specialized experienced with the complexities of administering Collective Bargaining Agreements (CBA) and our familiarity with payroll and reporting systems, we provide labor unions with a smooth and efficient auditing process.

Audit and Assurance

As one of the top Midwest firms serving labor unions, we work to help strengthen internal controls, enhance administrative efficiencies and overcome financial challenges. Using limited and full-scope financial statement audits, we can spot opportunities for streamlining operations. By assessing internal controls and making recommendations, we help protect labor unions from fraudulent activity and protect their reputation. Our audit and assurance services include:

  • Financial Statement Audits
  • Financial Statement Reviews
  • Agreed Upon Procedures
  • Internal Controls and Process Improvement
Cost Allocation Studies

Our team has over 30 years of experience in performing Common Expense Cost Allocation Studies for labor unions. The results of our studies have passed the scrutiny of DOL examinations.

Tax Planning and Compliance

Tax planning and preparation can get complicated for labor unions. Our tax advisors can help you navigate 990 tax forms to understand exactly what you’re paying.

  • Tax Preparation of Form 990
  • Tax Preparation of Form 5500 for Taft-Hartley Plans
  • LM Labor Organization Annual Report Preparation
  • Preparation of Political Disclosure Reports Required by State Agencies
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Outsourced Accounting

Whether you need strategic advice to grow your union, or to let go of the day-to-day accounting, our outsourced accounting services allow you to focus on what matters most. Using advanced cloud-based systems, Anders can automate your accounting functions in a seamless, scalable process that is accessible online in real-time, ultimately increasing efficiency and effectiveness with lower costs.

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Technology

Using data and innovative technologies can help move your labor union forward. Our advisors can work alongside your technology staff or work as your technology department to create efficiencies and optimize processes.

  • Cloud Infrastructure
  • Cybersecurity
  • Data Analytics
  • Managed Services
  • Technology Consulting
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Value-Added

Operating a labor union comes with competing demands, from policy development, financial reporting and board management. Beyond accounting processes, we work with labor unions on all financial aspects of their operations, including:

  • Department of Labor Representation
  • Board Fiduciary Responsibilities
  • Policy Development
  • Operations Management

Membership

We are a proud member of the International Foundation of Employee Benefit Plans (IFEBP). As a member of IFEBP we provide important and timely information through our association with other member firms across the country that also perform audits for labor unions and related multi-employer benefit plans.

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