Fiduciary Governance

DOL Issues Updated Electronic Disclosure Rules
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With mounting pressure to streamline retirement plan notice delivery and to help ensure delivery requirements can efficiently be met, the Department of Labor has issued updated electronic disclosure rules in the form of a new electronic delivery safe harbor provision. The new safe harbor permits the following two optional methods for electronic delivery: Website Posting  Read More →
Preventing Uncashed Retirement Checks
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Managing uncashed retirement checks may be considered a nuisance by plan administrators. Nevertheless, the employer still has fiduciary responsibility when a former employee fails to cash their distribution. Search efforts to locate a missing plan participant consume time and money and may fail to locate the participant. Likewise, going through the process of turning over  Read More →
Is Your Turnover Rate Routine? What You Need to Know About Partial Plan Terminations
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
During your retirement plan’s annual year-end compliance testing, your recordkeeper will review employee terminations to determine whether the plan may have experienced a partial plan termination. A partial plan termination is presumed by the IRS to occur when 20 percent or more of a company’s employees are no longer eligible to participate in the plan  Read More →

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