Coronavirus, COVID-19, CARES Act, these topics have without a doubt overtaken your media feeds and with a valid reason. However, in this time of turmoil, we wanted to take a moment to explain what some of this means in hopes of bringing you some calm.
DOL audits can be stressful, complicated and expensive! The best way to handle one is to avoid it in the first place. Through our experience, we’ve outlined three hot button issues that are major red flags for the DOL. Watch our short video for the tips and best practices to help manage risk.
While we firmly believe life is meant to be lived, we also know that it’s important to have peace of mind in the event of an emergency. Your employees might be in the dark about the most important documents they would need if something were to happen to them.
Scan the business news and you will likely find an article detailing the latest 401(k) litigation against a company accused of a fiduciary breach. The litigious trend started with corporate behemoths but has been trickling down to small and mid-size plans.
Your plan data and private information are valuable, but unfortunately, cybersecurity is a critical but often overlooked aspect of a plan sponsor’s fiduciary responsibility.
Hot breath, fear, sweaty palms - You’ve received a request from the Department of Labor (“DOL”) to provide documents about your retirement plan. You are being investigated.
Offering a competitive benefits package, including a top-notch 401(k) plan, is essential for your company to recruit and retain top talent. Today’s workers highly value employer-sponsored retirement plans: 88% of them say that an employee-funded retirement plan is important to them.[1] In addition, eight out of ten new hire candidates consider retirement savings programs offered by prospective employers a major factor in their job search decisions.[2]
The start of a new year is a great time to review your fiduciary governance process and confirm that your fiduciary priorities have been set. Preparing for the unexpected can be a delicate balancing act, but it is vital for the organized plan administration!
