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:
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Investments are prudently managed.
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The portfolio is diversified.
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Performance is monitored regularly.
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Due diligence is ongoing.
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Prohibited transactions are avoided.
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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 1-800-559-2900 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.
Contact Atlantic Financial
Atlantic Financial can setup new 401k plans or administer existing 401k
plans. We can also help your company serve former employees by
transferring them out of your plan and into their own IRA account with
an IRA Rollover - it's
better for the participants and saves the company money as well.
For more information: please call 1-800-559-2900,
or use this form to contact us:
