In recent years, the news has been filled with accounts of employee benefit plans — especially qualified retirement plans — that have been devastated by abusive handling. So it should come as no surprise that the IRS has increased its audit staff to take a closer look at plans.
“Perhaps in some future, more perfect world, an employer will purchase a pension plan, plug it in, stand back and casually watch its smooth, flawless operation. But today, any employer with a plan knows this is not the case: a pension plan is complex and you as plan sponsor need to be ever-vigilant …” – The IRS Web site
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