Weldon End

Weldon KA96 12C H79 3 x 2 1 2 x 8 x 12 HSS 10F HSS Rough Wavecut End Mill
Weldon KA96 12C H79 3 x 2 1 2 x 8 x 12 HSS 10F HSS Rough Wavecut End Mill
Paypal   US $1,499.99
WELDON END MILL SHARPENING GRINDING FIXTURE  KENNEDY TYPE CASE
WELDON END MILL SHARPENING GRINDING FIXTURE KENNEDY TYPE CASE
Paypal   US $589.00
Weldon 65640 KB64 11C 2 x 2 x 6 x 9 3 4 2F HSS M7 RH CC Crestkut End Mill
Weldon 65640 KB64 11C 2 x 2 x 6 x 9 3 4 2F HSS M7 RH CC Crestkut End Mill
Paypal   US $411.94
Weldon 65748 KC64 11B 2 X 2 X 4 X 7 3 4 3F RH HSS M7 Crestkut End Mill
Weldon 65748 KC64 11B 2 X 2 X 4 X 7 3 4 3F RH HSS M7 Crestkut End Mill
Paypal   US $322.62
WELDON 2 1 2 6 FLUTE HSS END MILL MILLING2 1 2 SHANK
WELDON 2 1 2 6 FLUTE HSS END MILL MILLING2 1 2 SHANK
Paypal   US $275.00
Weldon Tools 59397 1 x 1 x 2 x 5 4Flute Carbide TiCN End Mill
Weldon Tools 59397 1 x 1 x 2 x 5 4Flute Carbide TiCN End Mill
Paypal   US $262.73
Weldon 59555 1 5 Flute 45 Deg Medium Helix Single End Mill
Weldon 59555 1 5 Flute 45 Deg Medium Helix Single End Mill
Paypal   US $255.49
WELDON CRESTKUT End Mill 2 6FL HSS 2 x 5 x 8 3 4 USA KSC64 11E YB125]
WELDON CRESTKUT End Mill 2 6FL HSS 2 x 5 x 8 3 4 USA KSC64 11E YB125]
Paypal   US $250.00
new WELDON 1 x 6 LOC End Mill 6FL SE HSCo Rougher CREST KUT KPA32 7D 66408
new WELDON 1 x 6 LOC End Mill 6FL SE HSCo Rougher CREST KUT KPA32 7D 66408
Paypal   US $232.41
END MILL INGERSOLL WELDON SHANK 1 1 2 DIA 11 4 SHANK
END MILL INGERSOLL WELDON SHANK 1 1 2 DIA 11 4 SHANK
Paypal   US $225.00
Weldon 58044 T0 20A 5 5 8 x 3 4 x 4 1 4 x 6 1 2 3F HSS 1 2 Taper End Mill
Weldon 58044 T0 20A 5 5 8 x 3 4 x 4 1 4 x 6 1 2 3F HSS 1 2 Taper End Mill
Paypal   US $202.99
WELDON 2 END MILL HEAD LOT LATHE HEAD SEE PHOTOS 6PC
WELDON 2 END MILL HEAD LOT LATHE HEAD SEE PHOTOS 6PC
Paypal   US $199.99
Weldon 59450 3 4 4 Flute 45 Deg Helix Single End Mill
Weldon 59450 3 4 4 Flute 45 Deg Helix Single End Mill
Paypal   US $199.99
Weldon 3 Crest Kut End Mill Bit B 10263 9 Long
Weldon 3 Crest Kut End Mill Bit B 10263 9 Long
Paypal   US $199.00
Lot of 15 Weldon end mills cutters Tapered  straight
Lot of 15 Weldon end mills cutters Tapered straight
Paypal   US $199.00
Weldon 44246 1 x 1 x 3 x 5 1 2 4F Cobalt COA32 7C End Mill
Weldon 44246 1 x 1 x 3 x 5 1 2 4F Cobalt COA32 7C End Mill
Paypal   US $191.99
Weldon KPSC32 7B End Mill 1x1x4x6 1 2 CC Cobalt R$306
Weldon KPSC32 7B End Mill 1x1x4x6 1 2 CC Cobalt R$306
Paypal   US $189.80
New Weldon 2 HSS 6 Flute Ball End Mill RK 64 10 A
New Weldon 2 HSS 6 Flute Ball End Mill RK 64 10 A
Paypal   US $188.00
Weldon KC48 8B Crest Cut Single End Mill HSS CC 3FL 1 1 2 x 1 1 4 x 6 x 8 1 2
Weldon KC48 8B Crest Cut Single End Mill HSS CC 3FL 1 1 2 x 1 1 4 x 6 x 8 1 2
Paypal   US $181.69
Weldon Tool KPSC32 7B Crest Kut 1 x 1 x 4 x 6 1 2 Cobalt End Mill
Weldon Tool KPSC32 7B Crest Kut 1 x 1 x 4 x 6 1 2 Cobalt End Mill
Paypal   US $180.00
Weldon 4SV2426A 59450 3 4 x 3 4 x 4 4 Flute Carbide Spiral End Mill
Weldon 4SV2426A 59450 3 4 x 3 4 x 4 4 Flute Carbide Spiral End Mill
Paypal   US $179.99
NEW END MILL SET OF 3 WELDON 1 1 4 HSS CENTER CUTTING CREST KUT END MILLS 125
NEW END MILL SET OF 3 WELDON 1 1 4 HSS CENTER CUTTING CREST KUT END MILLS 125
Paypal   US $179.45
WELDON CREST KUT 2 dia x 2 shank x 10 length cut 6 flutes BALL NOSE END MILL
WELDON CREST KUT 2 dia x 2 shank x 10 length cut 6 flutes BALL NOSE END MILL
Paypal   US $177.64
Weldon KC48 8A Crest Cut Single End Mill HSS CC 3FL 1 1 2 x 1 1 4 x 4 x 6 1 2
Weldon KC48 8A Crest Cut Single End Mill HSS CC 3FL 1 1 2 x 1 1 4 x 4 x 6 1 2
Paypal   US $177.09
WELDON KB64 11D 2 HSS Crest Kut End Mill NEW RB6
WELDON KB64 11D 2 HSS Crest Kut End Mill NEW RB6
Paypal   US $176.00
Weldon 2 1 2 End Mill AE80 10
Weldon 2 1 2 End Mill AE80 10
Paypal   US $175.00
Weldon 2 End Mill AEX64 10
Weldon 2 End Mill AEX64 10
Paypal   US $175.00
Weldon WMMA51000 120 End Mill 1X1X3120 CR R$202
Weldon WMMA51000 120 End Mill 1X1X3120 CR R$202
Paypal   US $171.00
Weldon 5SF3232N  59551 1 x 1 x 2 x 5 5 Flute Carbide Spiral End Mill
Weldon 5SF3232N 59551 1 x 1 x 2 x 5 5 Flute Carbide Spiral End Mill
Paypal   US $169.39
Weldon 58560 3 8 x 3 4 x 3 1 4 x 5 1 2 3F T5 12M 5 5deg HSS Taper End Mill
Weldon 58560 3 8 x 3 4 x 3 1 4 x 5 1 2 3F T5 12M 5 5deg HSS Taper End Mill
Paypal   US $166.31
Weldon 59545 3 4 5 Flute 45 Deg Medium Helix Single End Mill
Weldon 59545 3 4 5 Flute 45 Deg Medium Helix Single End Mill
Paypal   US $161.69
NEW WELDON BRAND CREST KUT HSS END MILL 200 6FSE
NEW WELDON BRAND CREST KUT HSS END MILL 200 6FSE
Paypal   US $157.49
Weldon 4FL Crest Kut End Mill KAF64 11C NEW d3
Weldon 4FL Crest Kut End Mill KAF64 11C NEW d3
Paypal   US $150.00
WELDON End Mill 2 2FL HSS 1 1 4 x 2 1 4 x 4 3 4 M7 CC TiN RB20]
WELDON End Mill 2 2FL HSS 1 1 4 x 2 1 4 x 4 3 4 M7 CC TiN RB20]
Paypal   US $150.00
WELDON CREST KUT 2 dia x 2 shank x 8 length cut 6 flutes center cut END MILL
WELDON CREST KUT 2 dia x 2 shank x 8 length cut 6 flutes center cut END MILL
Paypal   US $149.14
2 x 10 WELDON END MILL 6 flute Combination Shank 13 3 4 L AEX64 11
2 x 10 WELDON END MILL 6 flute Combination Shank 13 3 4 L AEX64 11
Paypal   US $149.00
Weldon 59536 5 8 5 Flute Progressive Helix Single End Mill
Weldon 59536 5 8 5 Flute Progressive Helix Single End Mill
Paypal   US $145.99
Weldon 43048 1 x 1 x 1 7 8 x 6 1 2 4F HSS RH CC Double End Mill
Weldon 43048 1 x 1 x 1 7 8 x 6 1 2 4F HSS RH CC Double End Mill
Paypal   US $142.44
Weldon 5SF3232N 1 x 1 x 2 x 5 5 Flute Carbide Spiral End Mill
Weldon 5SF3232N 1 x 1 x 2 x 5 5 Flute Carbide Spiral End Mill
Paypal   US $140.69
New Weldon Crest Kut 1 1 4 M42 End Mill 6 Flute 4 LOC Retail $410
New Weldon Crest Kut 1 1 4 M42 End Mill 6 Flute 4 LOC Retail $410
Paypal   US $140.25
Weldon COART20 4 47553 5 8 x 5 8 x 1 5 8 x 3 7 8 4F HSCo RH Ball End Mill
Weldon COART20 4 47553 5 8 x 5 8 x 1 5 8 x 3 7 8 4F HSCo RH Ball End Mill
Paypal   US $139.99
12 Roughing End Mill Centercutting Tool Weldon Putnam
12 Roughing End Mill Centercutting Tool Weldon Putnam
Paypal   US $134.99
WELDON CREST KUT 2 dia x 2 shank x 8 length cut 6 flutes BALL NOSE END MILL
WELDON CREST KUT 2 dia x 2 shank x 8 length cut 6 flutes BALL NOSE END MILL
Paypal   US $133.24
Weldon Tools 5 32 x 3 16 x 9 16 x 2 59349 4SR0509N Carbide TiCN HP End Mills
Weldon Tools 5 32 x 3 16 x 9 16 x 2 59349 4SR0509N Carbide TiCN HP End Mills
Paypal   US $131.39
Weldon 4FL Crest Kut End Mill KA64 11B NEW d3
Weldon 4FL Crest Kut End Mill KA64 11B NEW d3
Paypal   US $130.00
WELDON END MILL 2 Dia HSCO 4LOC 7 3 4 OAL 8 FLT CC RHC RHH
WELDON END MILL 2 Dia HSCO 4LOC 7 3 4 OAL 8 FLT CC RHC RHH
Paypal   US $124.95
Weldon WMMA51000 End Mill 1x1x3x5 1 2 5FL R$202
Weldon WMMA51000 End Mill 1x1x3x5 1 2 5FL R$202
Paypal   US $124.83
Weldon 44144 COA32 7 1 x 1 x 2 x 4 1 2 4F Cobalt M42 CC End Mill
Weldon 44144 COA32 7 1 x 1 x 2 x 4 1 2 4F Cobalt M42 CC End Mill
Paypal   US $121.99
Weldon AC48 8 42656 HSS 4F RH CC 1 1 2 x 1 1 4 x 2 x 4 1 2 End Mill
Weldon AC48 8 42656 HSS 4F RH CC 1 1 2 x 1 1 4 x 2 x 4 1 2 End Mill
Paypal   US $120.88
Weldon Tool 44324 End Mill COAC32 7A 1x1x4 LOC M42 COB CC 4FL
Weldon Tool 44324 End Mill COAC32 7A 1x1x4 LOC M42 COB CC 4FL
Paypal   US $120.45
Weldon 3 16 x 3 8 x 1 2 x 3 1 4 4Flute Cobalt HSS M42 Double End Mills
Weldon 3 16 x 3 8 x 1 2 x 3 1 4 4Flute Cobalt HSS M42 Double End Mills
Paypal   US $119.99
WELDON CREST KUT 2 dia x 2 shank x 6 length cut 6 flutes BALL NOSE END MILL
WELDON CREST KUT 2 dia x 2 shank x 6 length cut 6 flutes BALL NOSE END MILL
Paypal   US $119.33
Weldon 47556 Single End Mill CoAR32 7 1x1x2x4 1 2 M42 BN CC RH UNC
Weldon 47556 Single End Mill CoAR32 7 1x1x2x4 1 2 M42 BN CC RH UNC
Paypal   US $114.99
WELDON CREST KUT 2 dia x 2 shank x 4 length cut 6 flutes RHH CC END MILL
WELDON CREST KUT 2 dia x 2 shank x 4 length cut 6 flutes RHH CC END MILL
Paypal   US $110.40
Weldon R20 3 27046 5 8 x 1 2 x 1 3 8 x 3 7 16 2F HSS M7 RH CC BN End Mills
Weldon R20 3 27046 5 8 x 1 2 x 1 3 8 x 3 7 16 2F HSS M7 RH CC BN End Mills
Paypal   US $108.56
Weldon 58364 T3 16M 4 1 2 x 5 8 x 2 1 4 x 4 3 8 3F HSS CC RH Taper End Mill
Weldon 58364 T3 16M 4 1 2 x 5 8 x 2 1 4 x 4 3 8 3F HSS CC RH Taper End Mill
Paypal   US $106.25
Weldon E24585 7 8 x 3 4 x 1 1 8 M42 CC Rouging End Mill
Weldon E24585 7 8 x 3 4 x 1 1 8 M42 CC Rouging End Mill
Paypal   US $105.99
Weldon 27060 15 16 x 3 4 x 2 1 4 x 4 1 2 2F HSS R30 5 Ball End Mill
Weldon 27060 15 16 x 3 4 x 2 1 4 x 4 1 2 2F HSS R30 5 Ball End Mill
Paypal   US $105.48
Weldon 5SF2416N 59539 5 Flute 3 4 x 3 4 x 3 Carbide Spiral End Mill
Weldon 5SF2416N 59539 5 Flute 3 4 x 3 4 x 3 Carbide Spiral End Mill
Paypal   US $100.09
6 GARR CARBIDE TOOLING 330M 7 16 10 06 WELDON FLAT END MILL
6 GARR CARBIDE TOOLING 330M 7 16 10 06 WELDON FLAT END MILL
Paypal   US $99.00
Weldon 5SF2426A 59542 3 4 x 3 4 x 4 5 Flute Carbide Spiral End Mill
Weldon 5SF2426A 59542 3 4 x 3 4 x 4 5 Flute Carbide Spiral End Mill
Paypal   US $98.54
Weldon 58106 T1 2XM 1 5 64 x 3 16 x 1 2 x 2 1 4 3F HSS Taper End Mills
Weldon 58106 T1 2XM 1 5 64 x 3 16 x 1 2 x 2 1 4 3F HSS Taper End Mills
Paypal   US $97.01
WELDON CREST KUT 2 dia x 2 shank x 3 length cut 6 flutes RHH CC END MILL
WELDON CREST KUT 2 dia x 2 shank x 3 length cut 6 flutes RHH CC END MILL
Paypal   US $96.00
Weldon 57225 SKXT14 3B HSS 2F RHC RHH 7 16 x 1 2 x 2 3 4 x 4 5 8 End Mill
Weldon 57225 SKXT14 3B HSS 2F RHC RHH 7 16 x 1 2 x 2 3 4 x 4 5 8 End Mill
Paypal   US $94.99
Weldon 65908 1 x 1 x 6 x 8 1 2 6 Flute HSS Crest Kut End Mill
Weldon 65908 1 x 1 x 6 x 8 1 2 6 Flute HSS Crest Kut End Mill
Paypal   US $90.00
REGRIND COBALT END MILL 8 FLUTE WELDON CREST KUT 1845
REGRIND COBALT END MILL 8 FLUTE WELDON CREST KUT 1845
Paypal   US $89.45
Weldon T1 12A 3 3 8 x 1 2 x 1 1 4 x 3 1 4 3F HSS Taper SQ Helix End Mill
Weldon T1 12A 3 3 8 x 1 2 x 1 1 4 x 3 1 4 3F HSS Taper SQ Helix End Mill
Paypal   US $88.99
new WELDON 1 HSS Crest Kut 3FL End Mill KC32 7C 65722
new WELDON 1 HSS Crest Kut 3FL End Mill KC32 7C 65722
Paypal   US $88.64
Weldon KPSC64 10B125 2 DIA 2000 HSCo Crest Cut 6 Flute End Mill NEW
Weldon KPSC64 10B125 2 DIA 2000 HSCo Crest Cut 6 Flute End Mill NEW
Paypal   US $88.00
Weldon 57242 SKX 24 5D 3 4 x 3 4 x 4 x 6 1 4 HSS 2F Skikut RH CC End Mill
Weldon 57242 SKX 24 5D 3 4 x 3 4 x 4 x 6 1 4 HSS 2F Skikut RH CC End Mill
Paypal   US $86.23
WELDON KAF48 8B 65842 1 1 4 M7 HSS 4 Flute CREST KUT End Mill for Aluminum 14
WELDON KAF48 8B 65842 1 1 4 M7 HSS 4 Flute CREST KUT End Mill for Aluminum 14
Paypal   US $84.95
WELDON KB24 4A CENTER CUTTING FINISHING END MILL 3 4 X 3 X 3 4 X 3 1 4 NEW
WELDON KB24 4A CENTER CUTTING FINISHING END MILL 3 4 X 3 X 3 4 X 3 1 4 NEW
Paypal   US $84.68
Weldon 4SV2026A 59446 5 8 x 5 8 x 1 5 8 4 Flute Carbide End Mill
Weldon 4SV2026A 59446 5 8 x 5 8 x 1 5 8 4 Flute Carbide End Mill
Paypal   US $83.94
WELDON CREST KUT 1 1 2 dia x 4 LOC 6 Flute BALL NOSE END MILL USA W 112400
WELDON CREST KUT 1 1 2 dia x 4 LOC 6 Flute BALL NOSE END MILL USA W 112400
Paypal   US $81.45
Weldon Crest Cut End Mill 2 X 2 X 4 X 7 3 4 6 Flute RH
Weldon Crest Cut End Mill 2 X 2 X 4 X 7 3 4 6 Flute RH
Paypal   US $80.00
Weldon 44140 COAC24 5 3 4 x 3 4 x 1 5 8 x 3 7 8 4F HSCo End Mill
Weldon 44140 COAC24 5 3 4 x 3 4 x 1 5 8 x 3 7 8 4F HSCo End Mill
Paypal   US $79.99
NEW WELDON ROUGHING END MILL 1 1 2 KPA48 8A ROUGHER
NEW WELDON ROUGHING END MILL 1 1 2 KPA48 8A ROUGHER
Paypal   US $79.55
Weldon AA18 4 42548 9 16 x 5 8 x 1 3 8 x 5 M7 NCC HSS 4F Double End Mills
Weldon AA18 4 42548 9 16 x 5 8 x 1 3 8 x 5 M7 NCC HSS 4F Double End Mills
Paypal   US $77.37
Weldon 2 1 2 End Mill AL80 10
Weldon 2 1 2 End Mill AL80 10
Paypal   US $75.00
Weldon 2 End Mill AL64 10A
Weldon 2 End Mill AL64 10A
Paypal   US $75.00
Titex List No D 3243 360mm 6 FLT M42 8 Cobalt CNC End Mill w Weldon Flat
Titex List No D 3243 360mm 6 FLT M42 8 Cobalt CNC End Mill w Weldon Flat
Paypal   US $75.00
LOT OF 4 WELDON SQUARE END EXTRA LONG END MILLS AE40 8 UNUSED SURPLUS
LOT OF 4 WELDON SQUARE END EXTRA LONG END MILLS AE40 8 UNUSED SURPLUS
Paypal   US $75.00
Weldon Crest Kut 1 x 1 x 3 x 5 1 2 0250 Radius HSS End Mill
Weldon Crest Kut 1 x 1 x 3 x 5 1 2 0250 Radius HSS End Mill
Paypal   US $75.00
HSS END MILL 1 X 2 X 4 1 2 2 flute WELDON SKB32 7
HSS END MILL 1 X 2 X 4 1 2 2 flute WELDON SKB32 7
Paypal   US $70.00
WELDON US 2 3 FLUTE END MILL 1PC NEW $35339
WELDON US 2 3 FLUTE END MILL 1PC NEW $35339
Paypal   US $69.99
Weldon 27063 1 x 3 4 x 2 1 4 2F HSS TiN Ball Single End Mill
Weldon 27063 1 x 3 4 x 2 1 4 2F HSS TiN Ball Single End Mill
Paypal   US $69.99
Weldon RT36 7 1 1 8 x 1 x 2 1 4 HSS 2FL Single End Mill
Weldon RT36 7 1 1 8 x 1 x 2 1 4 HSS 2FL Single End Mill
Paypal   US $66.99
REGROUND COBALT END MILL 8 FLUTE WELDON CRESSCUT 1846
REGROUND COBALT END MILL 8 FLUTE WELDON CRESSCUT 1846
Paypal   US $66.95
Weldon Tools 59377 3 8 x 3 8 x 1 x 2 1 2 4F Carbide TiCN HP End Mills
Weldon Tools 59377 3 8 x 3 8 x 1 x 2 1 2 4F Carbide TiCN HP End Mills
Paypal   US $66.21
Weldon 2 Diameter 2 Flute HSS End Mill New 2 Shank
Weldon 2 Diameter 2 Flute HSS End Mill New 2 Shank
Paypal   US $65.00
Weldon HS End Mill 2 1 2 x 3 x 5 1 2 8 Flute
Weldon HS End Mill 2 1 2 x 3 x 5 1 2 8 Flute
Paypal   US $65.00
Weldon High Speed Steel 1 1 2 x 1 1 4 x 6 Flute Length 6 Flute End Mill
Weldon High Speed Steel 1 1 2 x 1 1 4 x 6 Flute Length 6 Flute End Mill
Paypal   US $62.13
New Weldon Uni Lead 1 HSS End Mill 2 Flutes 54414° Lead BLF32 7
New Weldon Uni Lead 1 HSS End Mill 2 Flutes 54414° Lead BLF32 7
Paypal   US $62.00
WELDON COKC40 8 END MILL 1 1 4 X 1 1 4 X 2 X 4 1 2
WELDON COKC40 8 END MILL 1 1 4 X 1 1 4 X 2 X 4 1 2
Paypal   US $61.59
Weldon 1 2 x 1 2 x 2 x 60° radi altin Hss End Mill
Weldon 1 2 x 1 2 x 2 x 60° radi altin Hss End Mill
Paypal   US $60.74
WELDON Roughing End Mill 1 1 2 3FL HSS KC48 8C YB86]
WELDON Roughing End Mill 1 1 2 3FL HSS KC48 8C YB86]
Paypal   US $60.00
WELDON Tapered End Mill 1 2 3deg 3FL HSS 5 8 x 2 1 2 x 4 3 8 RB20]
WELDON Tapered End Mill 1 2 3deg 3FL HSS 5 8 x 2 1 2 x 4 3 8 RB20]
Paypal   US $60.00
Weldon 49210 3 8 x 3 8 x 3 4 x 2 1 2 4F Cobalt TiCN Spiral RH SQ End Mills
Weldon 49210 3 8 x 3 8 x 3 4 x 2 1 2 4F Cobalt TiCN Spiral RH SQ End Mills
Paypal   US $59.99
NEW WELDON CREST KUT END MILL 1 X 5 1 2 OAL X 3 LOC 4 FLUTE HSS USA 1104
NEW WELDON CREST KUT END MILL 1 X 5 1 2 OAL X 3 LOC 4 FLUTE HSS USA 1104
Paypal   US $59.95
WELDON 1 1 4 end mill M42 center cut 6 flutes 44548
WELDON 1 1 4 end mill M42 center cut 6 flutes 44548
Paypal   US $59.34

Is The ERISA Advisory Council? Section 512 Of ERISA Gives

What exactly is the ERISA Advisory Council?
Section 512 of ERISA gives for the establishment of an Advisory Council on Employee Welfare and Pension Benefit Plans, generally known as the ERISA Advisory Council. The duties of the council are to advise the Secretary of Labor on problems crucial to the administration of ERISA, and submit recommendations relating to the Secretary's functions under ERISA. The Council consists of 15 members appointed by the Secretary of Labor, and contains representatives of employee organizations, employers, the general public, and the accounting profession. Typically, the Council focuses on three to 4 issues every single year. For each problem, the Council defines the concern to investigate, takes testimony from witnesses, and submits a report of findings and recommendations towards the Secretary of Labor.
What does this study include?
Based on the Problem Paper for this project, the Council's aim is usually to make recommendations towards the Secretary of Labor with respect to ERISA's audit and economic reporting specifications; the desired outcome is always to improve the Department of Labor's oversight of employee benefit strategy audits. The Council plans to study the following:
How auditors work with plans to comply with ERISA § 103;
The advantages and disadvantages of the audit requirement; and
The current monetary reporting model under ERISA, and regardless of whether that model can and should be modified and to what extent.

In its work on the audit and financial reporting needs, the Council will specifically be evaluating limited scope audits. In the conclusion of the study, the Council will make recommendations to the Secretary of Labor, which might call for modifications towards the existing financial reporting model, auditing standards for benefit plans, or both.
AICPA Testimony?
On June 29, 2010, Marilee Lau, Chair of the American Institute of Certified Public Accountants (AICPA) Employee Benefit Strategy Audit Quality Center Executive Committee, and Michele Weldon,Chair of the AICPA Employee Benefit Plans Expert Panel, testified on behalf of the AICPA2. In its testimony, the AICPA discussed key changes in employee benefit plans from the time ERISA was enacted in 1974 towards the present day.

Comparison of Employee Benefit Plans – Then and Now
Plans in 1974 –
Primarily defined benefit and well being & welfare plans
Traditional investment portfolio consisting of publicly traded equities and bonds
Investments "physically held" by trustee or custodian
Plans today –
Primarily 401k plans with employees having their own money at stake
Often have "hard-to-value" investments, including private equity funds, hedge funds, and nonmarketable derivatives
Sub-custodians hold a plan's investments in separate or omnibus accounts

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The AICPA testimony focused on the key areas as follows: the limited scope audit exemption, 403(b) strategy reporting and audit requirements, and health and welfare strategy reporting and audit specifications. Limited Scope Audit Exemption ERISA's limited scope audit exemption allows the program administrator to instruct the independent auditor not to perform any auditing procedures with respect to investment information prepared and certified by a qualified institution which acts as trustee or custodian of plan investments or their agent. The trustee or custodian is only required to certify as to whether or not the information provided towards the strategy sponsor is complete and accurate based on information obtained from their ordinary business records; as a result, the values reported on statements are the best available information in their systems at the time of the report. In the case of "hard-to-value" investments, the report usually consists of a value provided by a third-party broker or fund company, which is not necessarily fair value, and not necessarily the value as of the year-end of the plan (i.e., the reported value might be as of the end of the prior quarter). Unless the strategy administrator has engaged the trustee or custodian to provide asset valuation services, the trustee or custodian will not verify the accuracy and validity of the valuation sources. When ERISA was enacted, most benefit plans held investments for which there was a readily determinable fair value, and so the best available information in their records was typically reliable.
The AICPA recommended that the Secretary of Labor seek legislative repeal of the limited scope audit exemption, or at a minimum, allow the election to be made only for assets whose present value is based on quoted market prices for identical assets. In the event that the limited scope option is not repealed, the AICPA also made recommendations dealing particularly with the use of certifications when "alternative" or "hard-to-value" assets are held by a Plan. Finally, the AICPA recommended that the Secretary of Labor require that those electing the limited scope audit exemption be required to consist of the certifications with their Form 5500 filings, which would subject them to review by the Department of Labor.
Section 403b program reporting and audit needs
ERISA-covered 403(b) plans will be subject to the same Form 5500 reporting and audit needs as 401(k) plans effective with the 2009 program year. Many of these plans have existed for decades, and with no previous audit requirement, there are not adequate books and records to support a "clean" audit opinion. Due to the nature of this limitation of the audit scope, many of these plans will face receiving qualified, adverse, or disclaimers of opinion for decades. The AICPA therefore recommended that the Department of Labor allow such 403(b) plans to prepare their financial statements on a regulatory basis of accounting. This recommendation would require the development of a regulatory basis of reporting in order to provide a consistent monetary reporting framework. As an alternative, the AICPA suggested that the Secretary of Labor could require plans to have an independent auditor perform an agreed-upon-procedures engagement to test certain elements and compliance matters.
Health and welfare program reporting and audit specifications
In the case of health and welfare plans, the AICPA focused on the limited usefulness of their monetary reporting as compared towards the cost. Particularly, useful information concerning the plan's ability to pay benefits is not provided; the plans are not required to be funded, nor are strategy sponsors usually required to fund or maintain benefits. The ultimate obligation to pay benefits rests with the strategy sponsors, and therefore one must look to the program sponsor's economic statements to evaluate the likelihood of benefits being funded. Further, the AICPA noted that the costs of these audits are frequently significantly higher than for other types of benefit plans due to the complexities of the well being care systems. The AICPA recommended that the Secretary of Labor evaluate whether the costs associated with these audits for single-employer plans effectively meet the needs of users of the financial statements. As an alternative, the AICPA encouraged the use of agreed-upon-procedures.
Other recommendations
In addition towards the important areas of focus above, the AICPA made other recommendations, including:
The Department of Labor ought to require all ERISA auditors to participate in a practice monitoring program, such as peer review, as well as, meet additional minimum qualification needs such as those established for the Employee Benefit Plan Audit Good quality Center;
The DOL should continue referring deficient audits towards the AICPA Ethics Division and state boards of accountancy, rather than the DOL having a new enforcement role over strategy auditors; and
The DOL really should not establish a new reporting model or auditing standard framework for ERISA plans.
Due to the limited time in the hearing to discuss the subject matter and the AICPA's recommendations, the AICPA also recommended that a special joint task force be established with the accounting profession to more fully consider these problems and solutions.
Next Up
In accordance with the DOL website, the next meeting of the ERISA Advisory Council is scheduled for August 31 through September 2, 2010 at the U.S. Department of Labor in Washington, DC. The Council will present its findings and recommendations towards the Secretary or the Secretary's designated representative in the final meeting of the council year, which ends on November 14.

Employee Benefits – Choosing the Best Packages.txt
for more on Employee Benefits Advisor and Reduce Staff Turnover and {Staff B} see our website

IE Weldon End of Year BBQ 1999 - Part 1

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