Have you changed vendors or third-party administrators?

“I think so often plan sponsors think the responsibility should be on the vendor, but the government is going to rely on the plan sponsor to show that the plan has been operated in accordance with the plan document and regulations,” say attorney Nancy Brower.

This helpful article from plansponsor.com discusses maintaining adequate records and records retention after a change in recordkeepers or TPAs. Learn what records to keep and for how long, and pick up some tips for maintaining adequate records.

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