audits

The Employee Retirement Income Security Act (ERISA) covers both defined-benefit and defined-contribution retirement plans. If your organization offers its employees either, you may feel like you’re constantly walking on eggshells with all the regulatory details involved. One critical way to stay in compliance and avoid costly penalties is to ensure your plan operates consistently with its plan documents. Most important requirement Although abiding by your plan documents might sound like a straightforward proposition, this isn’t always the case. ERISA requires plan fiduciaries to discharge their duties solely in the interest of participants and their beneficiaries “in accordance with the documents