Gavel to Gavel: A few tips for 401 (k) plan sponsors By Alison Patel

more+
less-

Article first appeared in The Journal Record - May 12, 2011.

Whoever said “don’t sweat the small stuff” never was responsible for administering a company’s 401(k) plan. With so much at stake for both the employees and the companies who sponsor them, retirement plans are, by their very nature, complicated documents. And it’s sometimes the smallest things – like not following a plan’s written definition of “compensation” – that can expose the company sponsor to significant financial and legal liability.

Unfortunately, compensation definitions can be extremely complicated. For example, does the plan’s definition of “compensation” include bonuses or overtime pay? What about any deferred compensation or other benefits provided to the employee? Because of these complexities, the use of inaccurate compensation amounts in plan operations is one of the most common errors.

Article authored by McAfee & Taft Attorney: Alison Patel.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.


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.

© McAfee & Taft | Attorney Advertising

Written by:

more+
less-

McAfee & Taft on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×