Good housekeeping isn’t just about keeping your house clean, it’s about keeping everything in order. When it comes to being a 401(k) plan sponsor, good housekeeping isn’t about dusting and putting baking soda in the refrigerator. Good housekeeping for a 401(k) plan sponsor is about doing the small stuff that every plan sponsor needs to do but forgets. For a 401(k) plan sponsor, good housekeeping is about exercising fiduciary responsibility in a prudent manner and minimizing potential liability. This article can give you some tips to avoid liability headaches later.
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