As a retirement plan sponsor, you have a lot on your plate. Evolving rules and regulations—not to mention ongoing requirements—varying employee generational needs, and cost management concerns are all enough to keep you up at night!
One topic that definitely causes a few worried frowns and sleepless nights is the thought of a plan audit. Just the word “audit” seems to cause immediate indigestion! While a plan audit does indeed require added work, you can at least lessen the worry by being prepared and knowledgeable about the process and procedures by reading Just in Case: Understand Plan Audits and Procedures.
You may also want to gain a better understanding of lifetime retirement plans. While some large companies offer this benefit, the idea is starting to trickle down to companies of all size. The Institutional Retirement Income Council’s recent report recommends lifetime retirement plans, and answers some key employer concerns and questions. For a summary of the report findings, read What’s the Scoop on Lifetime Plan Participation?
We always find generational thinking fascinating and useful, particularly when it comes to understanding how people save and think about retirement. In Retirement? Not Everyone Plans to Stop Working, I share some compelling information from a Transamerica worker survey.
We know your job is not easy. We hope by sharing some relevant and timely information that we can lessen your load a little bit. Please feel free to draw on our experience and help at any time!
