Since failure to comply with the regulations pertaining to 401(k) administration can lead to significant financial penalties, business leaders need to familiarize themselves with the new retirement plan rules starting with 2023.
For the annual review, an investment policy statement is highly recommended, which outlines general rules for the manager, provides the general investment goals and objectives and describes the strategies to employ.
Since many higher education institutions can’t compete with the desire for employees to work completely remotely, 90% of them said a DC plan is key and half of the colleges and universities have added or increased employer match.
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