Your Full-Service Accounting + Business Growth Advisory Partner

Tag: 401kPlan

What’s your Responsibility to Find Missing 401(k) Plan Participants?

By Craig Erickson  As the fiduciary of a 401(k) plan, you are responsible for retirement plan participants, even if they’ve left your company with no forwarding addresses or you have contact information that’s no longer valid. If employees work at your company long enough to take part in your 401(k) plan, and then disappear, moving from state to state, taking a series of jobs,  how responsible are you for tracking them down? When a participant cannot be located via routine delivery...

Continue reading

What to Look for When Hiring a 401(k) Plan Auditor

By Craig Erickson  As the number of participants in your company’s 401(k) plan grows, at some point the plan will require an audit. Also known as an employee benefit plan (EBP) audit, the U.S. Department of Labor generally requires one when the number of participants in your employee benefit plan reaches 100, though there are some exceptions. This audit, a result of the Employee Retirement Income Security Act of 1974, assesses whether an employer’s plan has the liquidity to meet...

Continue reading


Copyright 2022, Wiss & Company, LLP Accountants & Consultants. All rights reserved.