Employer Resource Center

Annual Plan Audit: An Auditor’s Perspective
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
Your organization’s retirement plan will generally require a benefit plan audit if the eligible participant count (including terminated employees who maintain an account balance) exceeds 100 at the beginning of the plan year. But what exactly will be audited and what are the auditors looking for? This audit includes financial statements attached to the Form  Read More →
Defined Contribution Recordkeeper Consolidation Continues
Team SummitEmployer Resource Center, Plan Operations & AdminComments are off for this post
Empower recently announced an agreement to acquire MassMutual’s retirement plan recordkeeping business. The acquisition is expected to capitalize on both firms’ experience and expertise to the benefit of retirement plan participants and plan sponsors. Plans currently utilizing MassMutual are being notified of this action and should expect no changes or disruption to current operations during  Read More →
Collective Investment Trusts: The Fastest Growing Investment Vehicle Within 401(k) Plans
Team SummitEmployer Resource Center, Plan InvestmentsComments are off for this post
For almost a century, collective investment trusts (CITs) have played an important role in the markets. They were originally introduced in 1927. According to a 2020 study, they are now used in more than 70 percent of plans.¹ For the vast majority of their existence, CITs were available only in defined benefit (DB) plans. In  Read More →

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