How long has it been since your company’s retirement plan had a comprehensive review?
Setting up a retirement plan is hard work. Once setup, a periodic review is the most often ignored part of the entire retirement plan management process. FSMA has a solution. It’s unbiased and meets government standards.
The Internal Revenue Service (“IRS”) and Department of Labor (“DOL”) perform thousands of audits of retirement plans every year. The IRS concentrates on tax law, while the DOL looks for violations of ERISA.
A look at enforcement results over the past four years shows a trend that should make retirement plan sponsors concerned. Auditors at the IRS and the DOL are clearly more focused now on the internal controls that employers follow for managing their plans, an area of weakness for most employers.
FSMA offers employers an excellent way to find out where they stand. We now offer members a comprehensive Qualified Plan Review option performed by an independent firm that…
- helps employers align with ERISA’s standards; and
- provides plan advisors an effective way to ensure that their clients are headed in the right direction.
Learn more about the Qualified Plan Review through FSMA. (Advisor inquiries are encouraged.)
Contact us here for more information.
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