Understanding and meeting your fiduciary obligations is a requirement for ERISA plans and is recognized as a best practice for non-ERISA plans. And, all plans must comply with IRS regulations. Whether working on your own or with the support of an advisor, TIAA-CREF offers a suite of services that can assist you in managing ever-increasing regulatory demands — allowing you to stay focused on maintaining a competitive plan that helps your participants plan for their financial well-being.
An administrator of an ERISA retirement savings plan is generally considered to be a fiduciary with regard to that plan. Fiduciary responsibilities are enforced by the Department of Labor (DOL) and require you to meet certain standards, including that you:
While not every plan must follow ERISA guidelines, all plans must comply with IRS regulations. Among the key compliance areas addressed are:
TIAA-CREF can help you understand and manage these obligations.
Compliance Monitoring Services
A variety of tools and guidance to help you meet plan compliance requirements in such areas as loan and hardship withdrawals, contribution limits and nondiscrimination. More…
TIAA-CREF does not provide tax or legal advice. Please consult with your own advisors.