The Dreaded 401(k) Refund: Corrective Distributions
401K REFUNDS: NOT AS GOOD AS THEY SOUND With tax season fresh on our minds, many hear the word refund and begin running down their imagery wish list of ways to spend this extra money. However, when it comes to 401(k) refunds, or corrective distributions, the excitement should be dialed back. Corrective distributions are a headache for plan sponsors and employees alike. Essentially, these refunds mean that your plan has failed testing, and tax deferred money that key employees
![[Infographic] Managing Your Fiduciary Duty](https://static.wixstatic.com/media/b14c6c_70a090cc43294d6ea84cc8ebabeefc74~mv2_d_2500_1667_s_2.jpg/v1/fill/w_319,h_240,fp_0.50_0.50,q_90,enc_auto/b14c6c_70a090cc43294d6ea84cc8ebabeefc74~mv2_d_2500_1667_s_2.jpg)
[Infographic] Managing Your Fiduciary Duty
Keeping proper documentation is a good way for plan sponsors and fiduciaries to show compliance with applicable laws and regulations. If the Department of Labor (DOL) or Internal Revenue Service (IRS) knocks on your door, there are certain documents that should be complete and on file. So, what should you have in your fiduciary vault? Download and save our "Managing Your Fiduciary" infographic to review our proper documentation checklist! DOWNLOAD INFOGRAPHIC
Should we have a retirement committee?
Should we have a retirement plan committee? If you are an employer or employee who has decision-making authority over your company’s retirement plan, there is a strong chance that you are a 401(k) plan fiduciary. You have a legal obligation to operate the plan solely in the interests of the plan participants (people with retirement account balances) and their beneficiaries (people who may inherit those retirement account balances). Additionally, two other primary responsibi
