DOL Investigations of Retirement Plans: 10 Key Areas of Focus

Plan governance is a key element in defining a retirement plan standard of excellence.

The attached article outlines 10 key areas the DOL is focused on regarding the governance of a qualified plan.  As indicated in the article, only a couple of the key areas of concern deal with the investments in the plan.

Most plan sponsors are not aware of the many operational issues they are responsible for.  Plan sponsors should evaluate if they have the time, knowledge, and inclination to gain the expertise to maintain compliance with the Internal Revenue Code Regulations, ERISA, and the Plan Documents.  If they do not, a Plan Sponsor should outsource those responsibilities to trained professionals specializing qualified plan governance.

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