Target date funds (TDFs) have become an increasingly popular investment choice for many retirement plan participants. According to a recent estimate by Bloomberg Law, participants currently hold about $1.4 trillion in TDFs.
Wende Wadsworth, Audit Shareholder
Recent Posts
Fiduciary Focus: Target Date Funds
Topics: Audit & Assurance
Record Retention: What to Hold, When to Fold
How long must plan sponsors maintain records? The easy answer is: “For a long time.” The more nuanced answer is: “It depends.”
Although ERISA does not specify a penalty for failing to properly maintain records, the same civil and criminal penalties apply as with knowingly violating any other ERISA provision.
How to Build and Run an Effective Governance Committee
As an employee benefit plan sponsor, you could face harsh consequences for failing to satisfy ERISA requirements as they relate plan fiduciaries. One of the best ways to defend against these liabilities is to form an effective employee benefit plan governance committee.
Topics: Audit & Assurance, Employee Benefit Plans
Employee Benefit Plan Audits- Do You Need One... and How Can You Prepare?
They are two of the most common questions that many businesses sponsoring an employee retirement plan ask: Do we need to have an annual audit performed on our plan? And if so, how can we best prepare for the audit?
Topics: Audit & Assurance, News, Employee Benefit Plans
Plan Sponsors: Answers to Your 5 Most Frequently Asked Questions About How COVID-19 is Affecting Retirement Plans
Topics: Audit & Assurance
Final Hardship Distributions Issued
In September, the IRS and the Treasury Department issued final regulations that make a number of significant changes to the rules that apply to hardship distributions from 401(k) and 403(b) retirement plans. These regulations respond to public comments that were made regarding earlier proposed regulations.
Topics: Audit & Assurance, Employee Benefit Plans
Employee Benefits Trends: Why Now is a Good Time to Re-evaluate Plan Design
When is the last time you and your governance group took a fresh look at your employee benefit plan? If it was more than a year ago—or worse, if you can’t really remember—then now is a good time to re-evaluate your plan design in light of changes in your employee base and broad shifts in workforce dynamics.