Below you'll find a list of all posts that have been tagged as “plan audits”
A new wave of ERISA litigation is calling attention to voluntary benefits—an area many employers have long viewed as low-risk. In this piece, Andy Clonts explains why voluntary programs are drawing scrutiny, how compensation structures and loss ratios can create fiduciary exposure, and why plan sponsors should revisit the governance and financial mechanics behind these offerings before regulators or plaintiffs do.
The late deposit of employee 401(k) deferrals is among the most common mistakes retirement plan sponsors make. Here’s how to correct it.
How do plan sponsors operate and administer employee benefit plans in a manner that is both effective and compliant with applicable regulatory and fiduciary obligations?
“Audit” is practically a four-letter word for plan sponsors, advisers and administrators. But an audit doesn’t have to be a bad thing.
As a defined benefit (DB) plan sponsor, it can be difficult to determine whether the fees you are paying for actuarial services are reasonable. Here are some ways to evaluate whether actuarial fees are in line with the services provided.
Confirming marital status when a participant dies is an important part of a plan administrator’s responsibilities, but it takes legwork and personalized attention. Here are some tactics we have used with great success.
Periodic checkups can keep plans running smoothly and help plan sponsors identify issues early, before those become difficult and expensive to correct. Such audits come in two varieties—transactional audits and operational audits.
SBA principals Mary Shah and Mindy Zatto discuss ways to recoup pension overpayments that satisfy regulators and do not place burden on retirees, as well as how to prevent overpayments from happening.
The onus of safeguarding plan participants from fraud does not fall solely on the recordkeeper. Both DC plan sponsors and recordkeepers need to agree on fraud-resistant processes that are clearly documented, rigorously implemented and consistently followed. Here are a few tips.
