Plan Operations & Admin

5 Tactics to Increase Retirement Plan Participation
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
Employees fail to enroll in their retirement plan for a variety of reasons. They may be intimidated if it’s their first time around or they might not fully understand and appreciate the benefits (or the downside of not participating). Some could be concerned about “locking up” their money — and others might worry so much  Read More →
Cyber Security Issues for Plan Sponsors
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
The Department of Labor is working on a guidance package addressing cybersecurity issues as they relate to plan sponsors and third-party providers. Tim Hauser, Deputy Assistant Secretary for DOL’s Employee Benefit Security Administration (EBSA) has indicated that we should expect more focus in the department’s investigations of the adequacy of various cybersecurity programs to confirm  Read More →
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 →

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