Seventy-five percent of audited 401(k)s are fined

21 Apr Seventy-five percent of audited 401(k)s are fined

Seventy-five percent of the 401(k)s audited by the DOL last year resulted in plan sponsors being fined, penalized or forced to make reimbursements for plan error. The reality is that for most 401(k) Plans nobody is “minding the store” . Most 401(k) plans need operational oversight from an administrative fiduciary. TAG serves as the 3(16) Administrative Fiduciary for over 700+ plans. Give us a call if you questions on how to avoid being part of the 75%.