A Department of Labor (“DOL”) official recently disclosed a new DOL investigation initiative focusing on the adequacy of defined benefit plan procedures to locate and pay out benefits to terminated vested participants. The...more
3/22/2016
/ Benefit Plan Sponsors ,
Breach of Duty ,
Corporate Counsel ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Duty of Prudence ,
Fiduciary Duty ,
Forfeiture ,
IRS ,
Plan Participants ,
Popular ,
Recordkeeping Requirements ,
Vested Benefits
A recent news bulletin from the IRS serves as a cautionary reminder that plan sponsors retain responsibility for the proper administration of participant hardship distributions and loans, and related recordkeeping...more