The Department of Labor’s new fiduciary rule sets new guidelines for investments in retirement accounts. This puts enormous pressure on plan sponsors to make prudent choices for their 401(k) plan. This new regulation has been seen as a huge opening for plan participants to file lawsuits against qualified plans that do not meet their fiduciary duty.
Linked below are three articles with information on the new Department of Labor rule as well as information on qualified plans getting sued for not offering prudent investments.
Get a 401(k) Audit
A 401(k) audit is a great first step to understanding whether your plan meets its fiduciary responsibility:
Comprehensive Audit $350
- Under Comprehensive Audit
- Fund analysis
- Fiduciary score
- Expense layout
- Performance report
- Plan design
- Review of operations
- Deposit schedule
- Investment committee meeting
- Full summary of submitted documents
Mini Audit $150
Under Mini Audit
- Fund analysis
- Fiduciary score
- Expense layout
- Performance report
For more information on either a Comprehensive or Mini Audit of your 401(k) plan, please fill out the form in the upper right.