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Documentation of Plan Procedures Mitigates Operational Risk
Segal Link to more items from this source
Sept. 27, 2022

"Employee turnover among a plan sponsor's benefit staff -- from switching jobs, termination or retirement -- can lead to a loss of valuable knowledge and experience, as well as operational failures and possible litigation.... It's important for all retirement plan sponsors ... to thoroughly document their plan procedures. That will ensure the plan can continue to operate smoothly as the operations team changes."

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