Slogan Banner

Qualified Retirement Plans

There are several different types of qualified retirement plans that can be sponsored by either single employers or are established through collective bargaining agreements (commonly referred to as Taft-Hartley Plans). The types are as follows:

  • 401(k) Plans
  • Profit Sharing Plans
  • 403(b) Plans
  • Defined Benefit Plans
  • Cash Balance Plans

ERISA imposes complex responsibilities and restrictions on fiduciaries and service providers to pension plans. If you are a Plan Sponsor, Trustee or Plan Administrator of a retirement plan you have a fiduciary responsibility to the participants and beneficiaries of the Plan. As a fiduciary you can and will be held personally liable for not keeping the Plan in compliance with ERISA If you are a service provider to a retirement plan you are subject to restrictions as defined by ERISA. As a fiduciary or a service provider it in your best interest to hire an ERISA Consultant to perform Fiduciary Audits and Compliance Reviews in order to prevent violations of your qualified retirement plan before they occur. Violations in qualified retirements plans can be costly if found during a DOL investigation and/or an IRS audit. The ERISA Compliance Consultant Specialists can be engaged and retained for the following type of Services:

  • Fiduciary Audits and Compliance Reviews:   This encompasses a full scope audit of the operations of the retirement plan and the operations of service providers to the plan to ensure that ERISA is fully complied with:
  • Reporting and Disclosure under Title I of ERISA
  • Fiduciary Responsibility under Title I of ERISA
  • Plan vulnerability to ERISA violations
  • A full audit report is provided on the review findings and will provide recommendations to correct and deficiencies in the operation of the Plan
  • Corrective Action is needed by Plan Sponsors or Fiduciaries as a result of failures to follow Plan Document and non-compliance with ERISA
  • Manage DOL Audits
    • Assist in the Collection of Documents Requested by DOL
    • Preparation of Plan Personnel for Interviews Conducted by DOL Investigators
    • Provide on-site support during the investigation
    • Provide advice in complying with demands made by DOL enforcement officials to correct violations disclosed during the investigation
  • Review real estate related transactions for compliance with ERISA
  • Review Trustee Expenses to ensure that compliance with ERISA
  • Guest Speaker Engagements on current retirement plan topics and educational seminars for Trustees, Fiduciaries and Service Providers
Copyright © David M. Kahn. All Rights Reserved.
Website by Cedric Cheng Design