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Retirement Plan Compliance Assessment

Retirement Plan Compliance Assessment
$ 99.95

Liability is probably the last word that comes to mind when you think about your company’s retirement plan, but as CEO and plan sponsor, you could be held personally liable if your plan is audited and found to be non-compliant.

The Department of Labor (DOL) and the IRS have been actively seeking to drive revenue from qualified plan audits. Three out of four plans that go into audit result in fines, and the DOL has the authority to assess civil penalties of up to $1,100 per day against plan administrators.

As your plan’s sponsor, you are responsible for ensuring that your plan’s documentation, processes and fees are in line with regulatory statutes. We developed this assessment in line with how the DOL approaches their audit, to identify gaps between your current plan processes and best practices.

The first section of this two-part assessment covers operations and execution of your plan. The second section, which is optional, provides insight into the investment fees associated with your plan through a plan benchmark report.

After you’ve completed the assessment, a CEO Tools-designated retirement plan consultant will contact you within 3-5 days to schedule a time to discuss your results and suggested next steps.

What you will need:

  • 10 minutes to complete the assessment
  • Section two provides a full plan benchmark, which will require you to upload your latest Annual Plan Review document. This document can be found on your current providers website. (Section two is optional.)

What you will get:

  • A custom Retirement Plan Compliance report
  • A consulting call with a retirement plan specialist to discuss your report