Blog Article 1: How to Prepare for a 401(k) Audit

  • Bjork Group

Bjork Group-Sean Bjork-401k Audit Preparation

If the term ”audit” makes you uncomfortable, anxious or even scared, you are not alone. Last year, the Department of Labor (DOL) closed 1,122 civil investigations with 754 (67%), resulting in fees, repayments or corrective actions. The agency collected over $3.12 billion in direct payments to plans, participants and beneficiaries. This represents a whopping 300% increase in just five years.  

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You Can’t Talk About That at Work: Tackling Financial FAQs

  • Bjork Group

Bjork Group_Sean Bjork_Financial FAQs (1)Talking about money is tricky, especially at work. While it may seem too personal for work and easier to avoid the conversation, the effects can have a lasting effect on a company.

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Is your retirement plan getting the support it needs during this pandemic?

  • Bjork Group

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If you’re having difficulty with all of the changes and to-dos regarding COVID-19 and how you manage your plan, you’re not alone!

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Thinking About Changing 401(k) Providers? Five Things You Should Know

  • Bjork Group

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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]

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Q1 2020 Newsletter: Fiduciary Plan Governance

  • Bjork Group

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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!

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2020 Compliance Calendar

  • Bjork Group

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Everyone loves the compliance deadlines that should be met every year. To help you stay ahead of the curve with important deadlines and filings, please find attached our complementary 2020 Compliance Calendar. If you have any questions about deadlines or information requested, please contact us to review today!

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What are Corrective Distributions and How to Avoid Them Going Forward

  • Bjork Group

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Tests – the word alone is enough to make the most studious of us sweat. When placed in the context of 401(k) plans, i.e. determining whether your plan passes non-discrimination tests, anxiety levels can go through the roof!

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[Video] What Do You Do?

  • Bjork Group

 

 
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[Video] What's Your Benefits "Why"?

  • Bjork Group

 

 
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Risky Business: Why Plan Governance Matters

  • Bjork Group

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