Each year, the Department of Labor (DOL) and Internal Revenue Service (IRS) identify 401(k) plans that are not in compliance with their plan documents, costing employers millions of dollars in penalty fees.
When was the last time you looked at your 401(k) plan document? Do you know what a plan document is? Do you know where to find it?
A plan document is the governing legal document for a 401(k) plan. It is, in fact, the most important document for plan sponsors, yet also the site of the most common errors, as outlined in the IRS list of the top 10 mistakes in 401(k) plans.
If you're not sure what a plan document is, or whether you are following it or not, we can help you. Join us for a free webinar on Thursday, March 29 from 4:00 pm to 4:50 pm EST.
We will review common mistakes in plan documents and how to get rid of them, as well as how to fix other common mistakes. Ultimately, if you find and correct your mistakes, you have a much smaller chance of getting caught on an audit.
The webinar will be presented by Melissa Weaver from Brooks Pierce and Allison Grimm from Pension Planning $olutions. Ms. Weaver is a partner at Brooks Pierce, and she has practiced in the employee benefits and ERISA area for over 25 years. Ms. Grimm is an attorney with extensive experience in employee benefits practices, including both pension and welfare benefits.