George Carlin said that all you need in life is a place for your stuff. Carlin said that all a house really is; is a place for your stuff. When it comes to being a retirement plan sponsor, retirement plan sponsors need a place for their stuff. More importantly, they have to know what stuff they really need to keep. Too often they throw out stuff that they thought was garbage and keep garbage they think is stuff. As plan fiduciaries, retirement plan sponsors need to keep their stuff in order to exercise their fiduciary duty diligently and to protect themselves from liability. So this article is about stuff, retirement plan sponsor stuff and what stuff a retirement plan sponsor needs to retain.
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Topics: 401k, Beneficiary Designations, Benefit Plan Sponsors, Documentation, DOL, ERISA, Form 5500, Retirement Plan, Valuation
Published In: Business Organization Updates, Finance & Banking Updates, Labor & Employment Updates, Tax Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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