404(c) Retirement Plan Compliance Checklist
If managed correctly 404(c) is a great program. It requires plan sponsors to give accurate information and education to their employees. If a plan meets their requirements, the plan sponsor and fiduciaries can shift the responsibility for investment losses to the participants. In Tim’s experience, many companies assume they have 404(c) covered, and they are not in compliance.
For example, Tim holds employee meetings to help them understand asset allocation; he also provides employees with risk tolerance questionnaires as well as detailed information from Morningstar, as well as others, on the investment options available in your plan.
With that in mind, we would like to offer you a no obligation review of your ERISA policies to assure your company is in compliance. In the end, you will either have an opinion that you are in compliance, or you may find there are areas to be worked on.
ERISA 404(c) Compliance Checklist – PDF 3 Pages
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