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What is Retirement Plan Legal and Compliance Consulting?

Mid- to large-sized companies with complex retirement plan designs can rely on legal consulting and compliance service providers to deliver offerings including compliant solutions, existing control evaluation, fiduciary and governance education, advice and guidance on retirement plan tax, ERISA, policies, legal and other plan design matters.

Why is Retirement Plan Legal Consulting and Compliance Important?

Organizations with complex retirement plan designs are responsible for ensuring that plan controls, policies, safeguards, and practices are compliant with tax and ERISA rules and that fiduciaries are informed and properly monitoring activities. Solid governance reduces risk and promotes wise decision-making, disciplined oversight, and compliance.

Legal and compliance consulting service providers can help an organization review a plan’s qualified status, manage pension plan liabilities and risks, evaluate existing controls, stay up to date on industry-leading best practices, develop compliant solutions, advise on tax and ERISA issues, and help create a sound governance and compliance structure that reinforces an organization’s commitment to best practices.