Corporate Retirement Plan Advisors
Thanks for subscribing! Please check your email for further instructions.
Title: 10 Steps to Help You Handle a DOL Investigation
Hot breath, fear, sweaty palms – You’ve
received a request from the Department of Labor (“DOL”) to provide documents
about your retirement plan. You are being investigated.
Your first thought may be, how did this
happen? Why does the DOL care about my company’s retirement plan?
Whether it was a complaint from a plan
participant, a referral from another agency, an error on your Form 5500, or
simply the luck of the draw, you could spend the next 12 to 24 months becoming
familiar with the DOL’s concern over how your plan’s fiduciaries carry out
the Request: 5 Tips You Should Know
If you knew in advance that your plan was
going to be investigated, how would you have prepared? As a best practice, all
plan fiduciaries should take the following five steps:
the Investigation: 5 Hassle-Saving Suggestions
Once you receive the notice of
investigation requesting plan-related documents, how can you prepare for the
process? The following steps should be taken:
DOL investigations happen. Take the time
now to clearly document your plan actions, explain why they were taken, and
always remember to act in the best interest of plan participants. This way, if
the DOL comes knocking at your door, you will be prepared.
Save my name, email, and website in this browser for the next time I comment.