Are you ready for a DOL audit?
ERISA compliance is very important for plan sponsors. More and more small plans are being audited and the DOL is expected to hire more than 670 new plan investigators. DOL statistics show that upon an audit, 70% of plans receive some type of fine and in 2009 and 2010 fines accounted for nearly 1 billion dollars.
Are you ready for a Department of Labor audit? To determine your level of fiduciary management take this quick quiz - 6 Key Fiduciary Questions - Quick Compliance Test
BCM will help the plan sponsor manage their ERISA duties using our Fiduciary Fitness Program. The areas covered by this service include but are not limited to:
Investment Policy Statements
- Investment Monitoring and Management
- Fee Analysis and Management
- Procedural Operations Checks
- Documentation - Fiduciary Files
ERISA Compliance Resources: