How to Manage Your Retirement Plan

When you start a retirement plan, in order to enjoy its tax benefits, you agree to a set of responsibilities that may seem overwhelming. But there’s a way to make it all a lot easier. 

How to Establish a System to Manage Your Responsibilities

Set up a checklist to make sure every “i” is dotted and every “t” is crossed, and review it at regularly scheduled times. Here’s what to include:

• Plan document is current and operates according to its terms
• Plan covers a sufficient number of rank-and-file employees
• All employees are notified about their eligibility to participate in the plan and their rights under the plan
• Employee salary deferral contributions and loan repayments are deposited timely

Compliance with the qualified retirement plan rules and regulations can be a daunting task. Together, we can navigate the complexities of the qualified planning world and proactively address any compliance hot buttons. Reach out today to discuss.

^{For use with plan sponsors only.}