Depending on plan provisions, you can
cut costs and mitigate fiduciary risk through expense management. For example:
- Paying plan expenses with forfeitures. Preserve corporate assets without shifting fee payments to your employees. Plan permitting, you can use forfeiture funds to pay certain administrative costs, make required contributions, or allocate to participant accounts.
- Acting on former employee accounts. Are you maintaining accounts for former employees or beneficiaries who have not cashed out? You may be able to reduce expenses by rolling over small balances into IRAs or making cash payouts where possible.
To
discuss available options and review plan provisions, contact your client service
team.
