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Compensation & Benefits Summary

Compensation And Benefits Summary For Audit Personnel

COMPENSATION

SAS 70 Solutions provides a generous compensation package to its employees.  Performers are rewarded in our system.  Each year, salaries are adjusted based on individual performance, but are also balanced against the employee’s peer group.  Although years of professional experience are important when determining compensation levels, we heavily focus on the SAS 70 experience and audit skills of our personnel.  It is entirely possible that a less experienced person could outperform an experienced person within our system.  Such performers have historically received appropriate compensation adjustments without regard for “salary bands” and years of experience.
 
SAS 70 Solutions recognizes that compensation is an important factor in retaining the most talented personnel.  For that reason, we consistently monitor market statistics to ensure that our compensation packages are among the most competitive in the marketplace.


BENEFITS

Quarterly Bonus Program

SAS 70 Solutions bonuses its employees on a quarterly basis.  Individual bonus amounts are derived based upon the employee’s ranking in their peer group.  Rankings are derived from the composite monthly evaluation scores for the period, as well as manager and shareholder subjective ratings.  Since 2005, the quarterly bonuses for senior auditors have averaged over $6,000 per quarter.  The average manager bonus is always 20% more than the average senior auditor bonus.


Travel Rewards Program


SAS 70 Solutions provides a bonus of $500 to employees upon every instance in which the employee is asked to engage in “non-standard” travel.  Specific details of the program are provided during orientation; however, qualifying instances normally involve travel that does not occur between Monday morning and Thursday evening.  Additionally, discretionary bonus amounts are paid for international travel.


Personal Time Off (PTO)


Audit personnel receive 25 days of PTO each year.  PTO is broken down into the follows two categories:

  1. » Auditors accrue 15 days of PTO per year, which equates to
       approximately five hours per pay period.
  2. » Auditors receive an additional 10 days of PTO on an annual basis
       when SAS 70 Solutions shuts down operations during the weeks
       of Christmas and New Years.  Actual dates of the office closing
       encompass full weeks and are decided on an annual basis.

Holidays


SAS 70 Solutions typically observes the following holidays when the holidays occur during the business week: Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and the Friday following Thanksgiving Day.


Medical Benefits


SAS 70 Solutions provides optional healthcare and dental insurance benefits to its employees.  Highlights of these benefits include:
  1. » Health and dental insurance benefits are administered by major
       healthcare and dental insurance carriers.
  2. » SAS 70 Solutions pays for the greater of 67% or $200 of employees’
       entire healthcare and dental premiums, which includes the cost for all
       eligible family members.
  3. » Employees can enroll in the healthcare and dental plans within one
       month of starting with the company.
  4. » The healthcare plan is a PPO.  Participants do not need a referral to
       visit in-network physicians.
  5. » SAS 70 Solutions has enrolled in a “high deductible” plan.  Unlike
       many traditional healthcare plans that require participants to pay a
       percentage of healthcare expenses, including catastrophic events,
       SAS 70 Solutions plan participants have a maximum annual
       deductible that is capped at a specific amount.  Employees enjoy
       significantly lower premiums under this plan because they only pay
       out-of-pocket for the medical benefits that they actually use, up to the
       cap of the annual deductible.
  6. » Employees are provided with access to a health savings account
       (HSA).  Employee can make pre-tax contributions to the account
       and use the funds for eligible healthcare expenses.  Current federal
       tax laws allow unused contributions rollover to future years.
       Participating employees receive a debit card and checkbook that
       can be used to make payments, which largely eliminates the need
       for reimbursement forms.

Life Insurance


SAS 70 Solutions provides an optional life insurance benefit to its employees.  Highlights of this benefit include:
  1. » Life insurance policies are issued through one of the nation’s largest
       insurance companies.
  2. » SAS 70 Solutions provides complimentary life insurance coverage to
       employees with death benefits equal to the lesser of the employee’s
       annual salary or $100,000.
  3. » Employees may purchase additional life insurance to increase their
       coverage to the lesser of three times their annual salary or $300,000.
       (Subject to insurability requirements.)
  4. » Employees may purchase spouse and dependent life insurance
       coverage through the SAS 70 Solutions' plan.

Long Term Disability Insurance


SAS 70 Solutions provides an optional long term disability insurance benefit to its employees.  Highlights of this benefit include:
  1. » Long term disability insurance policies issued through one of the
       nation’s largest insurance companies.
  2. » SAS 70 Solutions provides complimentary individual long term
       disability insurance to employees with evidence of insurability.
  3. » Long term disability benefits commence following a 90 day elimination
       period if the employee is unable to perform principal duties of
       occupation for SAS 70 Solutions due to total or partial disability.
  4. » Long term disability insurance benefit payments adjust annually based
       on inflation.

401(k) and Roth 401(k) Plans


SAS 70 Solutions provides optional retirement plan benefits to its employees that include access to a 401(k) plan and a Roth 401(k) plan.  Highlights of this benefit include:
  1. » Retirement plan services offered through one of the nation’s leading
       financial services companies
  2. » Employer matching contributions of up to 6% of employee's
       compensation
  3. » All employer contributions vest immediately
  4. » The waiting period to join the 401(k) plan is only 30 days
  5. » Account management activities can be performed online


Training and Education Programs

Employees are supported in maintaining appropriate education requirements to meet their CPE requirements for relevant accounting, audit and IT certifications and licenses.  Currently, training is conducted via self-study courses, seminars, off-site training courses and any other means necessary to meet supported CPE requirements.  To the extent employees are eligible; SAS 70 Solutions encourages employees to obtain the CPA, CIA, CISA and CISSP designations and pays for related preparatory materials, training and examination fees.


Professional Memberships


SAS 70 Solutions pays for membership dues for relevant professional organizations related to the accounting, audit and IT industries. SAS 70 Solutions also pays for other memberships on a case-by-case basis.


Business Casual Work Environment


SAS 70 Solutions typically performs fieldwork Monday through Thursday of a standard week.  Dress policies provide that our personnel should dress to the level of the client, which is usually a business casual level.  On Fridays, auditors are typically working from home or in the office.  Auditors are encouraged to dress casually any time that they are not working at a client location.


Complimentary Tax Return Preparation

SAS 70 Solutions reimburses its personnel for the fees incurred to all state income tax returns and standard federal income tax returns professionally prepared by SAS 70 Solutions' preferred vendor.



Disclaimer

This benefits summary shown above should be used for informational purposes only.  Descriptions contained herein are believed to be accurate as of a point in time and are subject to change without timely update of this website.  Additionally, the benefits summary shown above contains severely abbreviated descriptions of benefits.  In all cases, the current state of benefits and the accompanying details of such policies and/or plans supersede any descriptions of such benefits that are described on this website.  Job candidates should rely on more detailed information that is provided during the recruiting process and employee orientation procedures.
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