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.
- The New 401(k) Advice Rule and the Road to a New Fiduciary Standard (401kplanadvisors.com)
- Who Are Your Fiduciaries? (401kplanadvisors.com)
- Retirement-plan managers push for simplicity (401kplanadvisors.com)