August 1, 2011
For over twenty-five years, Salvatore J. Armao has provided accounting, auditing and consulting services to labor unions and Taft-Hartley employee benefit plans.
The son of a union official, Mr. Armao learned from his father how important unions are to the workers they represent. His father taught him that unions give workers job security, retirement income, and medical benefits. That’s why Mr. Armao works so hard today to help keep the unions that he serves on sound financial footing — so that they can continue to protect the rights of workers.
Mr. Armao is the former Chairman of the Nassau Chapter of the NYSSCPA Accounting and Auditing Committee and has served as a member of the AICPA Employee Benefit Plans Committee. He is also a former Adjunct Professor of Auditing at The State University at Old Westbury (SUNY) and a former Adjunct Professor of Accounting at The City College of New York (CCNY). He has been recognized by the Foundation for Accounting Education as a “Distinguished Discussion Leader” for his ability to consistently receive high ratings from program participants. A frequent contributor to trade and business publications, he was recently featured in the Long Island Business News as a “Who’s Who in Accounting”.
Mr. Armao is a member of numerous trade and professional associations, including:
• The International Foundation of Employee Benefit Plans
• The American Institute of Certified Public Accountants (AICPA),
• The AICPA’s Employee Benefit Plan Audit Quality Center
• The Business and Labor Coalition of New York
• The National Institute of Pension Administrators, and
• The New York State Society of Certified Public Accountants (NYSSCPA).
Sal is certified in Financial Forensics (CFF), holds the Forensic CPA designation (FCPA), and holds the prestigious Certified Fraud Examiner (CFE) designation. He is also a Certified Financial Planner (CFP) and holds the Personal Financial Specialist (PFS) designation.
Armao, Costa & Ricciardi, CPAs
The dedicated team of accounting professionals at Armao, Costa & Ricciardi performs payroll audits across the Tri-State Area. The firm is an independent auditor to over 150 employee benefit plans. Their highly skilled staff is well trained in financial accounting and reporting standards relevant to employee benefit plans, as well as rules and regulations under the Employee Retirement Income Security Act (ERISA).
The firm helps both trustees and employees get a fair deal with their benefits plans. Their payroll audit program helps the trustees to determine if an employee retirement plan is receiving the proper amount of employer contributions that are due and whether the plan has accurate and complete participant records. They also assist the employer and their personnel in understanding the terms of the collective bargaining agreement and proper completion and reporting of participants’ data to the benefit fund. Overall, Armao, Costa & Ricciardi’s payroll audit program is comprised of procedures that are flexible, giving them the ability to customize their approach to each client’s unique situation. The assets of the plans range from amounts under $1 million to over $1 billion.
Their clients include:
Taft-Hartley Multi-Employer Plans
Single Employer Plans
Defined Benefit Plans
Defined Contribution Plans
Corporate 401(k) Plans
Health and Welfare Plans
Apprentice and Training Funds, and
Legal and Scholarship Funds
You may contact Armao, Costa & Ricciardi, CPAs by email, info@acrcpa.com or by telephone at 516.256.3200. For more information, visit their website at www.acrcpa.com
