Multiemployer Plans

Addressing the Complexities of Multiemployer Benefit Plans

Multiemployer benefit plans are unique in both structure and oversight. Plan terms are established through collective bargaining agreements between unions and participating employers. The plans are governed by a board of trustees with equal representation from employers and the union. Like other employee benefit plans, the multiemployer plans are subject to the Employee Retirement Income Security Act (ERISA), and regulations are enforced by the Department of Labor (DOL), the Internal Revenue Service (IRS) and the Pension Benefit Guaranty Corporation (PBGC). This is a complex environment where trustees and administrators require a team that understands the interconnected responsibilities involved.

That’s where Weaver comes in. We understand the fine details of multiemployer plans and the importance of accurate financial reporting in sustaining participant confidence and meeting regulatory requirements. Our team collaborates directly with plan fiduciaries and other service providers to simplify accounting processes, deliver reports on time and highlight opportunities to strengthen financial management.

Weaver’s multiemployer benefit plan services address both regulatory requirements and day-to-day operational needs:

• Financial statement audits: Thorough, efficient and aligned with compliance requirements
• Payroll compliance audits: Reviews of employer payroll records to confirm accurate contributions, protect plan assets and meet ERISA requirements
• Compliance assistance: Support with ERISA, IRS, state reporting and DOL requirements, including guidance on complex forms such as 5500, 990 and unrelated business income (UBI) tax
• Form preparation and review: Including Forms 5500, 990, 990-T and 8955-SSA
• Cybersecurity and technology consulting: Evaluations, assessments and data retention strategies to safeguard participant information
• Outsourced accounting: Reliable support for ongoing administration and reporting
• Shared expense and operational reviews: Allocation studies and process reviews to ensure fairness and efficiency
• Trustee and local officer education: Practical training on fiduciary responsibilities and best practices
• Recordkeeping evaluations and expense compliance: Strengthening of administrative accuracy and regulatory confidence

The Right Support Strengthens Your Multiemployer Plan

The regulatory environment for multiemployer Taft-Hartley plans is complex and dynamic. A single misstep can lead to significant financial penalties or put the plan’s tax-exempt status at risk. Weaver provides trustees and administrators with forward-looking insight and practical tools that strengthen governance, improve efficiency and safeguard participant trust.

We focus on adding value for clients by:

• Advancing fiduciary governance: Translate complex reporting into actionable insights, helping boards make clear, defensible decisions that protect plan integrity
• Optimizing administrative processes: Identify inefficiencies and modernizing workflows, help reduce costs and free up staff capacity for higher-value work
• Strengthening data security and resilience: Address cyber risks head-on, strengthening controls to protect participant information and maintain confidence
• Equipping leaders with knowledge: Provide training tailored to trustees and administrators, ensuring decision makers stay current on regulatory changes and industry trends
• Planning for what’s ahead: Perform continuous monitoring of IRS, DOL and legislative updates to prepare clients for regulatory changes before they become disruptive

Multiemployer benefit plans serve as a lifeline for thousands of workers and retirees. Weaver’s blend of technical rigor, foresight and practical support helps ensure that responsibility is met with confidence and care.