Fiduciary Governance

New e-Delivery Standards Aim to Reduce Burden and Expense of Notice Distribution
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The final version of the Department of Labor’s new rules regarding electronic delivery of required notices was published this past May and took effect July 27th. These new rules will greatly reduce the burden and expense of delivering required participant notices. Many notices may now be posted to a website or provided via electronic mail  Read More →
Back to School for Fiduciaries
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Can you hear the bells ringing? (Or Zoom call dinging?) It’s that time of year to review your to-do list of fiduciary responsibilities. Fiduciary education is critical. Ask yourself the following questions to make sure you are on top of your responsibilities and liabilities. If not, it’s time to start studying! Are you practicing procedural  Read More →
Form 5500: IRS & DOL Red Flags
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
The Form 5500 is an ERISA requirement for retirement plans to report and disclose operating procedures to the Department of Labor. Each plan intending to comply with ERISA must file a Form 5500 annually. Auditors use these filings to confirm that plans are managed according to ERISA standards. The form also allows individuals access to  Read More →

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