In this presentation, we’ve taken some of the more common pitfalls and mistakes that plan sponsors make and broken them into three different areas. The plan, the payroll, and the participants. As we go through each of these areas, we’ll talk about the errors, the consequences of making them, and what can be done to avoid them.
Tom Briggs, Divisional Sales Manager
Kristyn Martin, QKA, AVP National Accounts -Business Development
In the video above we covered:
Recruiting and retaining employees
Importance of retirement plan in attracting and retaining employees (%)
Job seekers believe a 401(k) plan is important
Plan sponsors worry about being audited
Why running a plan properly is important
Failure to administer a plan correctly can cause problems
Keeping the plan up to date
Plan Sponsor must keep their plan documentation up to date
Ensure fees are reasonable relative to services received
Hiring a quality auditor
Keep the plan on course
Keep detailed records of all meetings and decisions made
And much more
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