Post by Summit Group 401k Consulting, an Alera Group Company

The U.S. Department of Labor is backing employers in a recent #forfeiture case, arguing that #ERISA allows plan fiduciaries discretion in how forfeitures are used. According to the #DOL, there is no rule requiring forfeited employer contributions to be used to pay plan expenses, as long as #fiduciary duties are met. This affirmation underscores the importance of keeping plan documents, fiduciary processes, and day-to-day plan administration aligned. #plansponsor #401k #403b #forfeitures #retirementplans #retirementplan #retirement #fiduciaryduty #HR #HRbenefits #benefits #HRExecs #HRinisghts #humanresources #CFO #SG401k Craig Stanley, CPA CPFA Lieren Timeus, CFP®, CPFA Colin Ragsdale, CPA CPFA Sarah DeLacey