When asked by advisors on what 401(k) plan sponsors should be aware of, I tell them that most small to medium-sized employers have far greater things to be worried about than a class action lawsuit. There are a whole host of compliance errors that plan sponsors should avoid or correct before an Internal Revenue Service (IRS) or Department of Labor (DOL) starts reviewing the plan. This article is about the plan errors that plan sponsors should be aware of and correct.
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