ERISA record retention may not be of those sizzling retirement plan topics for some folks. But please don't stop reading. It's an important issue in today's ERISA's environment in which Plan Administrators and other fiduciaries must meet complicated compliance reporting requirements, oversight from regulatory agencies, and sometimes litigation.
So here is some basic information about document retention for ERISA plans in a Q and A format. It means that in order for a retirement plan to be considered "qualified" (eligible for favorable tax treatment), a participant's retirement benefit had to be determined in accordance with a stipulated formula that is not subject to the discretion of the employer.
So here is some basic information about document retention for ERISA plans in a Q and A format. It means that in order for a retirement plan to be considered "qualified" (eligible for favorable tax treatment), a participant's retirement benefit had to be determined in accordance with a stipulated formula that is not subject to the discretion of the employer.
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National Benefit Services, Inc. is a Chicago-based retirement plan consulting, actuarial, and administration firm that works with employers who want to get their retirement plans from where they are now to where they need to be. Designing, administering and terminating all types of tax qualified retirement plans including defined benefit pension plans, cash balance pension plans, profit sharing and 401Ik plans, and employee stock ownership plans.
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