The preparation of retirement plan account statements has traditionally required a great deal of paper, ink, time, and money. Printed statements that are mailed to plan participants are not environmentally friendly, are less secure, require more staff labor, and add extra costs to the administration of a retirement plan. With that in mind, a new e-delivery rule from the Department of Labor (DOL) could benefit your plan in a variety of ways.
There are all sorts of different documents you need to provide, and many of them have different deadlines. We take a look at some of the most important disclosures, their deadlines, who they need to be provided to, and your options for distributing them.
The adoption agreement is your guidebook on the features associated with your retirement plan, and is something you and your administrative team should be very familiar with. It is critical that you follow the rules in your adoption agreement to help ensure the Plan stays compliant.
Fees have been a hot topic in the retirement services industry for some time now, and rightfully so. You don’t want your investment earnings to be eaten away by fees, but how can you tell what fees are being paid from your plan? And what fees are considered to be reasonable? You want to know if what you’re paying is appropriate.
Fiduciaries are considered an integral part of a retirement plan. They hold very important responsibilities and must adhere to specific best practices, or else they can be held personally liable.
Cybersecurity threats pose a tremendous risk to plan sponsors and participants alike. Here’s how to protect your workers’ assets and limit your company’s liability.