The 7-Point DIY 401k Plan Audit Checklist

7-Point DIY 401k Plan Checklist

Companies that set up retirement plans for their employees are expected to understand and comply with the complex regulation known as ERISA (The Employee Retirement Income Security Act of 1974).

Failure to demonstrate adherence to the rules outlined in ERISA can result in penalties, fines, or even disqualification of your plan completely. The Department of Labor (DOL), who is responsible for enforcing ERISA, takes this very seriously as evidenced in the fact sheet published annually on their website identifying the amount of fines imposed, investigations that resulted in penalties, and number of individuals indicted for benefits-related crimes.

To help you avoid becoming another statistic on the DOL’s annual report, I’ve put together a 7-Point DIY 401k Plan Audit Checklist to make it easy to understand where most compliance issues are found and identify your gaps so you can close them before it’s too late.

Download the checklist using the form to the right and let me know if you have any questions or need help closing the gaps.