Retirement plan distribution options can be complicated for employers, but not nearly as complicated as they can be for plan participants or their beneficiaries. Management may not be in tune with just how important it is to understand and administer their retirement plan when so many of plan responsibilities are outsourced to outside vendors. In order to avoid fines and penalties assessed by the IRS and Department of Labor, plan provisions must be properly administrated and communicated by employers. Most importantly, though, employers should be committed to providing accurate information to their employees as a standard practice.
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