Webinar Summary

Why this topic, and why now?

Deficiencies in payroll operations continue to be a leading cause of violations of the Internal Revenue Code and the Employee Retirement Income Security Act. Payroll errors that affect retirement accounts are classified as breaches of fiduciary duty. The economic penalties for employers can be significant in terms of fines and the costs to correct them. A plan’s annual financial audit may not catch those types of errors.

Our presenters, experts in the dependencies between payroll and retirement plans, will cover this subject in-depth and present solutions. Key topics covered include:

• The central role of payroll in fiduciary risk management
• Why recordkeepers and TPAs can’t be relied on to validate data
• The “plan document” is a time-bomb
• CPA audits don’t catch many payroll errors
• Three steps for getting it right

Ron W. Hagan, Roland|Criss’ President and Chief Operating Officer, and Kristi Arthur, our firm’s Senior Director of Fiduciary Solutions, share their experiences and provide the know-how human resources executives need in their oversight role.