Best Practices for Your Plan Fiduciary

April 23, 2019
Posted by: Jeff Atwell
Category: Financial Plan, Resources

Governing a qualified retirement plan requires the plan fiduciaries to be able to understand and apply complex regulations found in the Internal Revenue Code and ERISA. In addition to regulatory compliance, the provisions of the plan documents have to be followed at all times.

Various service providers can be engaged to assist in maintaining the tax qualified status of the retirement plan. The attached guide by Vanguard outlines some basic procedures plan fiduciaries need to follow on an ongoing and annual basis. It is important for plan sponsors to determine if they have the time, knowledge, or desire to properly govern the retirement plan.

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TRG has supported the Hanes Supply Inc. 401K plan for the last seven years. The service provided by TRG is world class. When it comes to the administration, recordkeeping for the plan and their year-end compliance, TRG’s annual plan audit always run smoothly. They are always there to answer any question that an associate may have and their web site is very informative and easy to use. Hanes Supply looks forward to working with TRG in the future.

Keith Anterline

Hanes Supply, Inc.