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Who is a Fiduciary
Managing a Plan Audit

The DOL is tasked with looking out for the best interest of retirement plan participants and one such way they do so is via the plan audit requirement. This video will help you expand your understanding of what the auditor is looking for and steps you can take to ensure your audit goes smoothly.

Managing a Plan Audit” will cover:

  • Why auditors have to audit more than financial statements
  • Why audit testing is meticulous
  • Advice to make their audit go more smoothly 
Who is a Fiduciary
What’s a Plan Audit?

Is your company-sponsored retirement plan subject to the DOL’s annual financial statement audit requirement?

The two primary factors that dictate an audit is required are: 1) the number of participants, and 2) the amount of non-qualifying plan assets. This video will help you gain an understanding of these issues as well as how to effectively manage your plan in the event of an audit.

Watch “What’s a Plan Audit?” to gain valuable insight to:

  • What is a plan audit
  • When it is required
  • Advice when selecting an auditor
Who is a Fiduciary
Auto Enrollment

Many plan sponsors struggle with how to encourage their employees to participate in a retirement plan. One way to help increase employee plan participation - with evidence of success - is by including an auto contribution arrangement, or more commonly known as an auto enrollment feature, to your company plan.

View “Auto Enrollment” to explore:

  • What is Auto Enrollment and how does it work
  • Is it right for your plan and employees  
Who is a Fiduciary
Plan Fees and Expenses

It is more important now than ever that all fiduciaries have a clear understanding of the new Department of Labor rules promoting fee transparency and minimum disclosure requirements.

Protect your role as a fiduciary and learn more about plan fee and expense arrangements associated with the services provided to a company retirement plan.

View “Plan Fees and Expenses” to explore the:

  • Numerous arrangements for how plan fees are paid
  • Disclosure requirements
Who is a Fiduciary
How You Define Compensation Matters

Did you know? The greatest number of errors commonly discovered during a retirement plan audit relate to the use of an improper definition of plan compensation.

Although “compensation” seems easy enough to define, when dealing with a retirement plan there can be many different types of compensation that need to be addressed. Gain an in-depth understanding of the numerous definitions of compensation and how the definition you use can affect the on-going operation of your retirement plan.

View “How You Define Compensation Matters” to uncover:

  • Multiple definitions of compensation
  • Consequences of using the wrong definition
  • How to avoid problems
Who is a Fiduciary
Your Plan Document

Are you aware that one of the most common compliance issues employers face when dealing with the IRS is out of date retirement plan documents?

The importance of maintaining your plan documents when offering retirement benefits to your employees cannot be over emphasized. Much like a car, proper and consistent maintenance helps to ensure that there are no major expenses or problems down the road.

Stay knowledgeable of your role and the legal requirements governing your plan documents. View “Your Plan Documents” to better understand:

  •  What information is required to be included
  •  Why the laws affecting retirement plans change so frequently
  • The differences between “good faith” amendments and restatement
Who is a Fiduciary
Managing Risk with Co-Fiduciaries

Did you know? As a retirement plan sponsor, there are practical ways you can mitigate your fiduciary liability with co-fiduciaries.

Gain a greater understanding of the role co-fiduciaries can play in your company plan and the additional services they provide with the video, “Managing Risk with Co-Fiduciaries.”

Who is a Fiduciary
Fiduciary Duties and Responsibilities

Are you uncertain of which recent changes to the fiduciary rules apply to you and the responsibilities associated with your role as a retirement plan sponsor?

Gain greater clarity and understanding of this fundamentally important topic with this featured video, “Fiduciary Duties and Responsibilities,” which seeks to:

  • Expand on who is a fiduciary
  • Identify key duties associated with your role
Who is a Fiduciary
Who is a Fiduciary?

Are you aware that as an employer sponsoring a retirement plan under the Employee Retirement Income Security Act (ERISA), you have a fiduciary responsibility?

Staying knowledgeable of your role as a fiduciary and the associated responsibilities you must properly manage are key to your company’s retirement plan success. View “Who is a Fiduciary?” to better understand your individual role and what qualifies other members of your team as a fiduciary.

This brief and engaging 3-minute video will highlight:

  • Who is a fiduciary?
  • What roles or specific responsibilities fiduciaries have?