ERISA

What Happens When You Deposit Employee Deferrals Late?
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
In our research, late deposit of contributions is a frequent error made by plan sponsors and is a key priority of the Department of Labor (DOL). In every plan audit conducted by the DOL, the investigator looks to see if contributions have been deposited in a timely manner. A number of years ago, the DOL  Read More →
The Role of a Retirement Plan Advisor
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
Plan Fiduciaries must act as prudent experts under ERISA, and are therefore held to a high standard of care with respect to plan-related decisions regarding investments, service providers, plan administration, and general ERISA compliance issues. Most prudent plan sponsors hire a plan advisor to help them adhere to ERISA’s rigorous standards and to meet their  Read More →

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