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The mistakes employers make in the administration of 401(k) and 403(b) plans are widespread and involve predictable errors. The first and most common error is employers’ failure to remit employee deferrals for deposits to employees’ retirement plan accounts on a timely basis. It should be no surprise then that deficiency is one of the most aggressive enforcement areas by the Internal Revenue Service and the U.S. Department of Labor.
The first and most common error is employers’ failure to remit employee deferrals for deposits to employees’ retirement plan accounts on a timely basis.
Learn the three steps your plan management program can include to avoid this mistake.
About our host
Ronald E. Hagan is chairman of Roland|Criss’ Risk Standards Committee. Ron has over 25 years of experience helping clients examine and improve their risk management practices for employee benefit plans qualified under the Employee Retirement Income Security Act of 1974. He is the engaging host of Roland|Criss’ weekly podcast and quarterly webinar series.
