A Better Path to Plan Compliance

The management of retirement plans has become increasingly complex, demanding that plan sponsors navigate evolving regulatory requirements, administrative responsibilities, and fiduciary obligations. As key stakeholders in retirement plan oversight, financial advisors often serve as the first line of defense, guiding clients through administrative challenges, mitigating compliance risks, and ensuring adherence to fiduciary best practices.

Plans inevitably experience missteps along the way. In fact, so much so that both the Department of Labor (DOL) and the Internal Revenue Service (IRS) have their own plan corrections programs to help get plans back on track. This month, we thought it was timely to briefly examine a recent change to the DOL’s voluntary self-correction program, and more importantly, discuss how to avoid needing it in the first place.

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Compliance

A Better Path to Plan Compliance

In Depth

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