The US Department of Labor requires all employers follow a strict set of rules regarding retirement plan participant contributions to avoid costly errors.
Department of Labor
DOL Electronic Disclosure Guidance
The DOL Electronic Disclosure guidelines recognize two Safe Harbor methods in addition to two supplemental methods
The GreatBanc and DOL Settlement Agreement
The DOL recently reached a settlement of its lawsuit alleging violations of ERISA against GreatBanc. As part of the settlement, GreatBanc was required to enter into a “Fiduciary Process Agreement.” The agreement applies only to GreatBanc and is not a Regulation, Field...