Managing a construction company’s retirement plan is no easy task. The rules are complicated and the penalties can be severe. Far too often, however, upper management doesn’t understand this dynamic and designates a person that is not technically-equipped to handle this serious responsibility.
Employers often hire a myriad of advisors to help them administer their plan, but these advisors do just that – help. As the plan administrator, the employer is responsible for the plan unless they pay a hefty fee to offload that responsibility, which makes it so surprising that many employers give this responsibility to the wrong person in …read more
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