Auditing and Tax Reporting

The Fund conducts internal audits of its own operations and also reviews participating Ys to confirm that they are fulfilling the terms of their agreements with the Fund. Any participating Y may be chosen for review. If your Y is selected, you will be given notice and instructions.

Non-Discrimination Coverage Testing

Each year, all participating Ys must comply with the coverage and non-discrimination testing required under the Internal Revenue Code. In order to meet this requirement, the Fund requires that your Y complete Non-Discrimination Coverage Testing (previously called Schedule T). Around mid-July, the Fund will send you instruction on how to complete the form in YERDI.

IRS Form W-2

Please reach out to your payroll provider for W-2 reporting questions. For IRS Form W-2 Instructions, click here.


Under the YMCA Retirement Fund’s Plans, most of the administrative, bookkeeping and investment responsibilities are the Fund’s. The Fund has fiduciary insurance to cover errors or omissions on the part of Fund Trustees or Management.

A Y needs to ensure that all employees are enrolled when they are eligible (meaning they have 2 years of service, worked at least 1,000 hours during each of those years and are over the age of 21) and all payments are made on time (as soon as possible after each payroll but not later than the 15th business day of the month following the payroll period).

Ys that participate in the Fund’s Plans have limited fiduciary responsibilities and may decide not to buy fiduciary insurance.

The 401(a) Retirement Plan became subject to ERISA (Employee Retirement Income Security Act of 1974) on July 1, 2006. ERISA generally requires that every fiduciary—and anyone who handles plan assets—be bonded. The Fund has an ERISA bond for the Retirement Plan. It is likely that the only handling of funds that a Y does is the transmittal of contributions to the Retirement Fund so if the Y does not send contributions withheld from an employee’s pay to the Fund in a timely manner, they may be seen as handling plan assets.