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Tag "plan document"

5 Tasks Every 401k Fiduciary Must Do Right Now

Here’s a checklist that will make the lives of 401k plan sponsors much easier.

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ICI Memo Reveals What the Industry Wants the ERISA/401k Fiduciary to Disclose

One of the biggest liability risks facing the ERISA/401k plan fiduciary derive from the inability to properly disclose and educate plan participants. The primary reason for this gap may be due to lack of specifics from the DOL regarding plan document contents and distribution of key information to participants. The suggestions offered by the ICI should help remedy this gap.

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Everything an ERISA/401k Fiduciary Needs to Know About DOL Audits to Reduce Fiduciary Liability

What most often triggers a DOL audit? What liability exposure does the ERISA/401k fiduciary typically face as a result of a DOL audit? Can a retirement plan fiduciary face criminal charges? What does the DOL auditor expect from the ERISA/401k fiduciary? What are the four critical keys the plan fiduciary should focus on during a DOL audit? Does the DOL have an ideal “Wish List of Materials” they expect an ERISA/401k fiduciary to provide them during a DOL audit?

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4 Essential Elements of Every Retirement Plan

The United States Department of Labor (DOL) has issued a booklet entitled “Meeting Your Fiduciary Responsibilities.” The DOL created this publication to help Employee Retirement Income Security Act (ERISA) plan fiduciaries better understand their duties and obligations. Included are four “essential elements” of all retirement plans.

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5 Important Duties of Every ERISA Fiduciary

An employee places much trust in an Employee Retirement Income Security Act (ERISA) fiduciary. Because they have the responsibility to act on behalf of retirement plan beneficiaries, plan fiduciaries are held to certain standards of conduct by the United States Department of Labor.

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