How A 401(k) Plan Sponsor Can Be Proactive

Ary Rosenbaum
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As a 401(k) plan sponsor, you need to understand that not only is the plan a great benefit for you and your employees, it has some negative aspects if you’re not proactive in maintaining it. If you ignore your 401(k) plan, The 401(k) plan can be used as a weapon against you because of the potential liability exposure from litigation by participants or penalties from the Internal Revenue Service (IRS) or Department of Labor (DOL). This article is how you can be proactive in maintaining your 401(k) plan.

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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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