Do you know your 401k score? Do you know if it is too low?
Would you like to know your companies score?
https://www.your401knumber.com
Your 401(k)’s low grade could subject your plan to an IRS or Department of Labor (“DOL”) audit, fines and even a litigation against you by your plan’s participants/beneficiaries.
In 2020, there were more than 90 class action lawsuits of 401(k) plans.
In 2020, ERISA and DOL recovered over $3.1 billion in fines, penalties, and lawsuit settlements!
Will you be next?
You may be being overcharged and you don’t even realize it, but that’s an entirely different matter.
Why are the IRS, DOL, and ERISA stepping up their enforcement efforts so much?
Because you are not alone in your low grade.
67% of all employer sponsored 401(k) plans aren’t ERISA and DOL compliant.
30% of all plans do not even have a required fidelity bond.
Did your 401(k) sales rep tell you what a fidelity bond is and that you needed one?
Does your plan have one?
Did you know you may be
personally liable for the low grade?
The individual who signs the 5500 form is personally liable and cannot hide behind the corporate veil (if applicable).
That means that the individual signing the form could be personally fined.
When was the last time you saw your 401(k) rep anyway?
So, what can you do about it?
Start with finding out your current 401(k) Score out of 100, and identifying any issues before the IRS or DOL does!
Click the link below to find out your 401(k) score.
https://www.your401knumber.com
There will be no sales pressure when we talk, I promise. That is not the way we do business here.
Click the link now.
