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.
By helping workers take control of their short- and long-term financial goals, you can help them as well as make progress on your own goals of employee attainment and retention.
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.
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