Unintended violations of fiduciary duty take place daily in employee benefit plans (especially retirement plans) qualified under the Employee Retirement Income Security Act. The cause is a lack of clarity about where the hazards lurk for the most part.
The point at which a retirement plan and a payroll system intersect is a breeding ground for the most common violations of fiduciary duty. And they can be the most unwieldy to fix. What’s more, the annual financial audit performed by a retirement plan’s CPA won’t necessarily catch all payroll deficiencies that might exist because a CPA’s audit is focused primarily on financial transactions, not operational processes.
Our host for this episode of the Excellent Fiduciary podcast, will expose the causes that foster payroll-related violations of federal pension law and present the cures.
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.
