Prince is with ProCourse Fiduciary Advisors, LLC, a registered investment advisor.
Seventy-three percent of human resources professionals said they have needed to become experts on health care and retirement to do their job effectively. When was the last time you were comfortable stating that you understood all of the rules and regulations your job title or position requires you to comply with?
With regard to regulatory matters, one thing is constant: change. As regulators are starting to more closely examine retirement plans, it is important for those individuals who are responsible for overseeing their company’s retirement plan to pursue continuous training and stay up-to-date with industry-related best practices. Fortunately, you do not have to go far to seek this training as the Indiana Chamber of Commerce is hosting, “Best Practices for Retirement Plan Fiduciaries,” which will help you:
- Learn from the mistakes of others by reviewing recent court cases (with an emphasis on what they should have been doing)
- Review current trends from the Internal Revenue Service and the Department of Labor and know what to be on the lookout for
- Identify how you can perform a self-audit of your retirement plan and potentially uncover easy fixes that could otherwise lead to costly errors
- Hear about what politicians and regulators are considering changing with respect to your role in administering your retirement plan
Our goal is to help retirement plan sponsors obtain a better grasp on their roles and responsibilities and determine areas where they can improve their efforts so to better protect themselves as a fiduciary and, in the end, provide a better retirement plan for their employees.