MULTIEMPLOYER PLANS
Multiemployer benefit plans play a critical role in providing retirement and welfare benefits — that include health, life, disability, training and vacation — for employees across industries. Often referred to as TaftHartley plans, they require deep knowledge, careful financial management and year-round attention to meet compliance demands. Weaver goes beyond the numbers, taking the time to understand your plan, your board of trustees and the challenges you face, supporting you to meet fiduciary responsibilities and manage your plan effectively.
UNDERSTANDING MULTIEMPLOYER PLAN COMPLEXITIES
Unique in both structure and oversight, multiemployer benefit 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 both sides. Like other employee benefit plans, these plans are subject to the Employee Retirement Income Security Act (ERISA), and regulations are enforced by the Department of Labor (DOL), Internal Revenue Service (IRS) and Pension Benefit Guaranty Corporation (PBGC).
In this environment, trustees and administrators require a team that understands the interconnected responsibilities involved. That’s where Weaver comes in.
TURNING OVERSIGHT INTO OPPORTUNITY
Weaver understands the fine details of multiemployer plans and the critical role accurate financial reporting plays in sustaining participant trust and meeting regulatory requirements. Our team works closely with plan fiduciaries and other service providers to streamline accounting processes, deliver reports on time and highlight opportunities to enhance financial management.
THE RIGHT SUPPORT STRENGTHENS YOUR MULTIEMPLOYER PLAN
Even small oversights can result in significant financial penalties or jeopardize a plan’s taxexempt status. Our forward-looking insights and tools are designed to 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, reduce costs and free up staff capacity for higher-value work
⊲ Strengthening data security and resilience: Address cyber risks directly, enhancing controls to protect participant information and maintain confidence
⊲ Equipping leaders with knowledge: Provide training tailored to trustees and administrators, keeping decision makers current on regulatory changes and industry trends
⊲ Planning for what’s ahead: Continuously monitor IRS, DOL and legislative updates to prepare clients for regulatory changes before they become disruptive
⊲ Protecting participant privacy: Helping plans safeguard sensitive participant data through strong policies, controls and compliance with applicable privacy requirements
WHY WEAVER?
Multiemployer benefit plans serve as a lifeline for thousands of workers and retirees, and they require a provider who understands what’s at stake. Auditing more than 100 plans annually, Weaver brings the experience, foresight and practical solutions trustees can rely on to protect participant benefits and enhance plan performance. With a long history of supporting Taft-Hartley plans, our team is committed to helping you strengthen governance, improve operational efficiency and stay ahead of emerging regulatory and financial challenges — so your plan remains strong for the participants it serves today and in the future.
OUR SERVICES
Weaver’s multiemployer benefit plan services address both regulatory requirements and dayto-day operational needs, providing trustees with strategic support that drives long-term sustainability.
AUDIT AND FINANCIAL REPORTING
⊲ 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
⊲ Outsourced accounting: Reliable support for ongoing administration and reporting
REGULATORY AND COMPLIANCE SUPPORT
⊲ 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
⊲ Recordkeeping evaluations and expense compliance: Strengthening of administrative accuracy and regulatory confidence
OPERATIONAL ASSESSMENT AND PROCESS IMPROVEMENT
⊲ Cybersecurity and technology consulting: Evaluations, assessments and data retention strategies to safeguard participant information
⊲ Organizational assessment: Reviews of governance, staffing models and operational workflows to identify inefficiencies, clarify responsibilities and support effective plan administration
⊲ Shared expense and operational reviews: Allocation studies and process reviews to ensure fairness and efficiency
STRATEGIC GUIDANCE AND TRUSTEE EDUCATION
⊲ Strategic planning and oversight support: Assistance in understanding emerging regulatory changes and preparing plans for what’s ahead
⊲ Trustee and local officer education: Practical training on fiduciary responsibilities and best practices
KEY CONTACTS:
GARY BRUNICK, CPA
PARTNER-IN-CHARGE, AUDIT, LABOR UNIONS AND EMPLOYEE BENEFIT PLANS
O: 240-200-1425
GARY.BRUNICK@WEAVER.COM
ANDREA GIANNI, CPA
PARTNER-IN-CHARGE, AUDIT, LABOR UNIONS AND EMPLOYEE BENEFIT PLANS
O: 240-200-1422
ANDREA.GIANNI@WEAVER.COM
MATTHEW SIMON, CPA
PARTNER, AUDIT, LABOR UNIONS AND EMPLOYEE BENEFIT PLANS
O: 212-857-3010
MATT.SIMON@WEAVER.COM
MICHAEL FRIEDMAN, CPA
PARTNER, AUDIT, LABOR UNIONS AND EMPLOYEE BENEFIT PLANS
O: 212-896-1912
MICHAEL.FRIEDMAN@WEAVER.COM
SEAN PERRY, CPA DIRECTOR, AUDIT
LABOR UNIONS AND EMPLOYEE BENEFIT PLANS
O: 212-857-3014
SEAN.PERRY@WEAVER.COM
THERESA MCDOWELL, CPA DIRECTOR, AUDIT
LABOR UNIONS AND EMPLOYEE BENEFIT PLANS
O: 303-970-8651
THERESA.MCDOWELL@WEAVER.COM