403b

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 →
DOL Issues Updated Electronic Disclosure Rules
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
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 →
Why You Need to Communicate with Employees
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
Many businesses have started to understand how vital it is for employees to understand their retirement options, and are increasingly including employee education in fiduciary risk management, whether it’s in the form of one-on-one counseling or educational seminars. Take a look at these reasons why you should constantly communicate with and educate your employees. Gossip  Read More →

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