Compliance Is a Critical Component of Operational Risk in DC Plans

Compliance Is a Critical Component of Operational Risk in DC Plans

This Public Sector Letter, on operational risk in defined contribution (DC) plans, covers a range of topics including:

  • Internal controls for compliance,
  • Operational compliance reviews,
  • Keeping plan documents up-to-date and error-free, and
  • Governance strategies for managing compliance risk.

Get Your Compliance Checklist

This publication also includes a compliance checklist for common DC plan operational errors. It covers key points like:

  • Giving eligible employees the opportunity to make elective deferrals,
  • Ensuring correct timing and amount of contributions,
  • Complying with a 457(b) plan’s “first-of-the-month rule,”
  • Processing required minimum distributions on a timely basis, and
  • Exercising due diligence in searching for lost participants and beneficiaries.
Report — September 2019

Public Sector Letter, “Compliance Is a Critical Component of Operational Risk in DC Plans”

<em>Public Sector Letter</em>, “Compliance Is a Critical Component of Operational Risk in DC Plans” Download the Publication
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Julian Regan

Julian Regan
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