Nobody’s perfect. It’s unfair to expect recordkeepers to be. Everyone makes mistakes—even recordkeepers. The problem is what happens when a mistake occurs.
Tag "payroll processor"
How do you solve, for example, the problem of integration between the payroll software and the 401k recordkeeper’s website?
Ultimately, it will be the tort bar that offers the enforcement and the subsequent consequence for poor decision making on the part of plan sponsors and service providers. Rest assured all sides will be discover the regulatory fence in their once open fields.
The best interests of the 401k participants will always trump convenience and cost.
