DOL, AICPA Launch Website to Help Small Businesses Select Retirement Plan

Employers can access a number of retirement plan options via new website

More On Legal & Compliance

from The Advisor's Professional Library
  • The Custody Rule and its Ramifications When an RIA takes custody of a client’s funds or securities, risk to that individual increases dramatically. Rule 206(4)-2 under the Investment Advisers Act (better known as the Custody Rule), was passed to protect clients from unscrupulous investors.
  • RIAs and Customer Identification Just as RIAs owe a duty to diligently protect their clients’ privacy and guard against theft, firms also play a vital role in customer identification. Although RIAs are not subject to an anti-money laundering rule, securities regulators expect advisors to address these issues in their policies and procedures.

The Department of Labor Employee Benefits Security Administration (EBSA) and the American Institute of Certified Public Accountants (AICPA) recently launched a new, interactive website to help small businesses select a retirement plan for their employees.

The website, “Choosing a Retirement Solution for Your Small Business,” is available at http://www.choosingaretirementsolution.org/.

Jim Metzler, AICPA’s vice president of small firm interests, said in a statement announcing the web site's release that “the economic turmoil of the past two years has underscored the importance of sound retirement plans for employees of small businesses.”

Through the website, employers have access to a number of retirement plan options from “a simpler individual retirement account-based plan to the more sophisticated automatic enrollment 401(k) plan,” the release states. The website also describes the advantages and features of various retirement plans, the release notes, and “even businesses with as few as two employees will find options using this new online tool.”

Reprints Discuss this story
This is where the comments go.