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Compliance Oversight

PSA understands that compliance with both regulatory changes and recent industry trends is not just important, but mandatory, for retirement plan success.

The partnership between PSA’s Fiduciary Consulting Group and The PFE Group brings together leading specialties and processes in retirement planning along with greater resources and keen industry insight — all to help deliver exceptional client services and experiences.

PSA has developed a “Fiduciary Scorecard” in order to assess your plan compliance needs. We will help evaluate your current plan operations such as governance, 404(c) compliance, notice distribution and plan administration. PSA will partner with you to address those areas in need and ensure that your retirement plan’s fiduciary requirements are in compliance and stay in compliance.

PSA understands that compliance with both regulatory changes and recent industry trends is not just important, but mandatory, for retirement plan success. For example, with the U.S. Department of Labor’s 2012 release of its final regulations regarding 401(k) fee disclosure, PSA’s team can not only help ensure your organization is in compliance with these rules but also help with the participant education factor. We see 401(k) fee disclosure as an opportunity to be proactive and pro-participant. To learn more about 401(k) fee disclosure, check out this blog post, “New Retirement Plan Fee Disclosure Rules – Y2K All Over Again?” by the Fiduciary Consulting Group @ PSA.

For many of our clients, we work with the plan’s Investment Committee, human resource staff, and ERISA counsel to ensure the plan is updated and operating according to the mandated plan rules and regulations. Our consultants’ understanding of ERISA and non-ERISA plans and their compliance needs are an integral part of our consulting expertise.

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Areas of Retirement Plans

Recent Blog Posts

Jun
16th
5 Ways Cyber Insurance Can Help Your Physician’s Practice Manage Cyber Risk

Did you know? To date, in 2017 there have been 133 reported data breaches in the healthcare industry – on average 17,849 records breached per incident. The Ponemon Institute estimates the cost per lost or stolen healthcare record to be about $400. This does not include fines and penalties, which can further increase the cost. […]

Jun
8th
Ever been asked to provide a Certificate of Insurance?

A question I hear from clients often is “How do I get a Certificate of Insurance?” A request for a Certificate of Insurance (COI) may be the most frequent interaction you have with your property and casualty broker or your insurance carrier. If you’ve never had to obtain a COI before, here’s an overview of […]

May
31st
What is a Controlled Group?

When several entities (whether incorporated or unincorporated) share common ownership, a controlled group or common control may exist.  For many IRS benefit plan purposes, a controlled group is treated as a single employer.  For example, the determination of an employer’s size for purposes of COBRA, Medicare Secondary Payer rules and the ACA’s Applicable Large Employer […]

May
25th
PSA’s Office Renovation Improves Employee Engagement, Performance and Client Experience

Research has shown that employees who are highly dissatisfied with their work environment are often the least engaged. And that lack of engagement can often translate to poor customer service and less satisfactory client outcomes. At PSA, we recognize the importance of a favorable work environment for our employees — so they’re equipped to better […]