Retirement Plan Compliance Assessment

Did you know that as CEO and plan trustee, you could be held personally liable if your retirement plan is audited and found to be non-compliant with regulatory standards? 

Liability is probably the last word that comes to mind when you think about your company’s retirement plan, but the ERISA laws that regulate qualified retirement plans are personal liability statutes.

The Department of Labor (DOL) and the IRS have been actively seeking to drive revenue from qualified plan audits. Three out of four plans that go into audit result in fines, and the DOL has the authority to assess civil penalties against plan trustees of 20 to 100 percent of plan value. These penalties are not tax deductible. 

As your plan’s sponsor, you are responsible for ensuring that your plan’s documentation, processes and fees are in line with regulatory statutes. We developed this assessment in line with how the DOL approaches their audit, to identify gaps between your current plan processes and best practices.

The first section of this two-part assessment covers operations and execution of your plan. The second section, which is optional, provides insight into the investment fees associated with your plan through a plan benchmark report.

Once you have completed the assessment, a CEO Tools-designated retirement plan consultant will contact you within 3-5 days to schedule a time to discuss your results and suggested next steps.

What you will need:

  • 10 minutes to complete the assessment
  • If you are interested in receiving the detailed plan benchmark offered in Section 2 of this assessment, you will need to upload your latest Annual Plan Review document. This document can be found on your current provider's website. (Section two is optional.)

What you will get:

  • A custom retirement plan compliance report
  • A consulting call with a retirement plan specialist to discuss your report
  • View preview here


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