Plan sponsors have a plethora of administrative duties and deadlines to juggle each year, 2022 being no exception. To start out the year, you’ll want to ensure your 401(k) plan complies with any new rules and regulations, as well as ensure you are on track to comply with any upcoming deadlines on the ERISA and IRS calendars.
Plan reviews are an important part of the role of a plan sponsor. Depending on the type and complexity of the plan, there may be a number of different aspects to consider during this review. Do you have a Retirement Plan Committee? Are you covering the right topics? Have you conducted an investment review? Having a Retirement Plan Committee can help keep the administration of your plan running smoothly.
In June 2021, Wilmington Trust convened a panel of experts from Alston & Bird LLP and Marston’s PLC to discuss the LIBOR transition. The panelists discussed the impact of the changes as seen in the market together with the various strategies firms are implementing to work towards the deadline of a December 31, 2021 implementation.
