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ERISA Fiduciary Duties and Pension Plans

Corporate 401k Plans

401k Fiduciary Are You in Violation of Your ERISA Responsibilities?

Some estimates place the number of plans that are in violation of some aspect of ERISA regulations as high as 90%. As a pension plan administrator you are at a high risk of failing a Department of Labor Audit. The importance in making sure that your company complies is apparent now more than ever.

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Not only has the Department of Labor (DOL) increased their enforcement of regulations but the fines levied by the DOL are personal. Several business owners and plan administrators at small companies have been fined to the point of financial ruin. As a trustee of an ERISA-regulated retirement plan, you are required to ensure that:

Investments are prudently managed.

The portfolio is diversified.

Performance is monitored regularly.

Due diligence is ongoing.

Prohibited transactions are avoided.

Decisions are made in the sole interest of participants and beneficiaries.

Sometimes simple changes can help companies comply with ERISA regulations. To have us assist you with your corporate 401k plan or answer any questions you may have, please call or contact Atlantic Financial.

At your request we will analyze your plan and provide a complimentary investment policy statement.

ERISA Pension Plan Compliance - Broker of Record Service

One Simple Step Can Help You Comply with ERISA Regulations

If the investments in your current plan are held directly by a mutual fund company, we may be able to help. By simply telling your mutual fund company to list us as the 'broker of record' for your company you would take an important step toward complying with several key aspects of ERISA.

Be sure your 401k management team is up to date about
New 401k Laws