Navigating 401(k) Plans and Department of Labor Audits - Featuring Expert Marc Fowler

Casual Friday: Financial Insights

In this episode, we dive into the complexities of 401(k) plans and the audits conducted by the Department of Labor (DOL). The Employee Benefits Security Administration (EBSA) is the group responsible for investigating and auditing 401(k) plans, which can be a significant challenge for plan sponsors.

Key insights discussed:

• EBSA’s investigations recovered an average of $573.5 million annually from FY2019-FY2023, with more than 65% of cases resulting in corrective action.
• This marks a significant increase from prior years, reflecting the growing impact of these investigations.

Join Brian, Ryan, and expert Marc Fowler from 401k provider Human Interest as they explore:

1. What triggers a DOL audit?
2. What happens during a DOL audit?
3. How can employers or plan sponsors prepare for these audits?
4. Who can assist with navigating a DOL audit?

Tune in for expert advice on ensuring your 401(k) plan stays compliant and audit-ready.
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