With one in three retirement plans audited by the Internal Revenue Service or Department of Labor over the past two years and the government hiring more staff to conduct even more frequent examinations, 401(k) and 403(b) retirement plan sponsors should act to correct possible violations before Washington finds them first.
The Employee Benefits Security Administration (EBSA) — the DOL agency that enforces the Employee Retirement Income Security Act of 1974 (ERISA) — is increasing audits of pension plans.
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