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We’re all human, and humans make mistakes — thus, why pencils have erasers, games allows mulligans and the IRS offers the Voluntary Correction Program.
VCP, which gives retirement plan sponsors the opportunity to self-correct tax missteps before they balloon into complex and costly problems, is greatly valuable to benefits pros.
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Handing off clients to an e-filing expert can help reduce administrative strain while allowing HR and benefits teams to focus on employee support and plan strategy.
The landscape of employee benefits continues to evolve, and data will be a greater influence for all employers.
Just as hidden fees became the hallmark issue in 401(k) fiduciary litigation, shared savings is quickly becoming the next flashpoint in health plan oversight.
An unsuccessful open enrollment period could lead to long-term challenges for benefit leaders.
Knowing how to effectively address missteps and correct them is a critical skill for all leaders.
