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Meeting the Challenge of Tracking Changing Operational Requirements

July 9, 2019

Via: HR Hero

Among the many challenges a plan sponsor faces is keeping plan operations current with operational requirements. Some requirements are mandatory for all plans, and others are required as a result of discretionary changes made by an individual employer plan to take advantage of legislative and regulatory changes.

A retirement plan must operate in compliance with plan provisions, and these must comply with regulatory requirements. A plan runs the risk of operational failures unless it implements operational procedures that ensure compliance with both plan changes and their respective effective dates.

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