401k Plan Sponsors have a fiduciary duty to manage their 401k for the benefit of their employees. Most employers want to do it right, yet in 2016 alone the Employee Benefits Security Administration closed 2,002 civil investigations resulting in 1,356 monetary outcomes totaling more than $777.5 million.*
We understand that reviewing a 401k is not a priority for many small to mid-sized business; however, “failure to supervise” is a real and tangible thing that can have an impact not only your employees’ retirement readiness, but possibly the business’s bottom-line.
If you have a 401k and have not conducted a plan review in the last 12 months, we highly recommend a comprehensive plan review. Regular reviews are designed to ensure that you are complying with the regulations to the best of your ability in areas such as, plan documentation, investments and employee education.
At Six8 Advisors, we not only focus on retirement plans, we focus on small to mid-sized plans just like yours. Ask us our about our one-time 401k Check-up, or ongoing Plan Advisory Services.
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