Title: Assuring Retirement Benefit Plan Compliance
Abstract: Qualified retirement plans are an important part of a comprehensive employee benefits package to recruit and retain the best talent. However, they present significant challenges in their proper administration to ensure compliance with labor and tax law. A comprehensive program of selfmonitoring is an important instrument for ensuring that qualified retirement plans achieve their ultimate purpose—to reward, motivate and attract valuable human talent in the most costeffective manner possible. Such a self-monitoring program should create a system of checks that will provide for the continual verification and reconciliation of critical data, as well as the assurance that all plan documents are complete, accurate and timely. The self-monitoring program should minimize the opportunity for error in the administration of the plan by focusing on the following areas: investment management, participant data, eligibility, contributions, forfeitures, distributions, compensation, investment oversights and loans.
Publication Year: 1999
Publication Date: 1999-09-01
Language: en
Type: article
Indexed In: ['crossref']
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