A qualified retirement plan is a necessary benefit for attracting and retaining quality employees. However, there has never been more regulatory pressure for employers to properly address fiduciary responsibilities and plan administration for the 401(k) or 403(b) plans they sponsor. This increased regulatory compliance and audit risk have many employers seeking solutions to minimize the compliance burden and risk.
Each business has their own set of challenges in competing today. Below are some of the challenges that have brought employers to 401k SAFE:
Plan Administration Oversight