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.
Prevailing Wage: New Reporting & Record Keeping Obligations – New York State has increased compliance for contractors by amending a bill making contractors and subcontractor responsible and accountable to provide additional disclosures to workers on public works jobs.
New York State has increased compliance for contractors by amending a bill making contractors and subcontractors responsible and accountable to provide additional disclosures to workers on public works jobs.
As a Plan Sponsor, you’re tasked with all sorts of administrative requirements – determining eligibility of participants, providing required notices, depositing employee deferrals on time — the list goes on. There’s good news though, you’re not in this alone. DirectAdvisors has put together a helpful overview of these requirements to help you stay compliant and successfully navigate the administration on your plan.