Expert Q&A

Mr. & Mrs. business owner, do you know how much your retirement plan actually costs?

An AARP study recently found that more than 70% of business owners believe the pension plans are free. This is not the case and not knowing can cost you and your company big time.

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Tony DePasquale
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By Tony DePasquale - Elysien Private Wealth & Real Property
Answered over 4 years ago

The department of labor audited more than 3100 qualified retirement plans in the last two years. the DOL found that over 70% had compliance issues and the average fine per plan was more than $450K! Take into account new regulations under ERISA and business owners are facing more and more lawsuits and regulations for their pension plans. Most 401k and 403b plans are full of hidden fees and costs that are putting business owners at risk. To find out if your firm has exposure contact us and we will provide you with our free white paper entitled “Retirement Fraud and The Killer Pension Plan.” If you own a business or have discretion over employee retirement money, you need to address this issue as soon as possible.

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