Business owners must take their head out of the sand and deal with the regulatory changes to their company retirement plans. These issues will not go away and the deadline is fast approaching.

As bad as I believe it is for plan sponsors, I believe that many retirement plan providers are not prepared for the coming changes in 2012. Many retirement plan providers have been ready for years, but I think there is quite a few that are not and that is a problem on many levels.

Obviously, every retirement plan provider has to be in compliance. It hard to be a third party administrator (TPA) or an ERISA attorney or financial advisor and touting how you can keep your client’s plans in compliance when you are not in compliance. However, I am thinking from a business standpoint.

Is your plan provider ready for the regulatory changes coming in 2012? If you don’t know now is the time to find out.

Please comment or call to find out if your plan will be compliant.