Recently, the DOL reported the results of its investigations during FY 2014. In short, 2,541 of the 3,928 civil investigations, or 64.7%, resulted in almost $600 million in recoveries or other corrective actions.
This underscores the importance of hiring qualified experts to provide you with advice and services related to your retirement plans. The rules and regulations governing these plans are just too extensive and complicated to go it alone. Nor should you entrust these critical functions to just anyone. You want someone with deep experience and knowledge; someone who will stand beside you should your plan ever get chosen for audit.
Here at Northwest Plan Services, Inc., we have never had a DOL audit of a client’s plan result in any recoveries and we’re proud of that fact. We employ experienced and dedicated people, utilize industry leading systems and technology, and implement processes and procedures that ensure your retirement plan is in compliance. So if the DOL comes knocking, you can rest assured that everything will be in order.