Los Angeles partner Heather Abrigo was quoted in an American Society of Pension Professionals & Actuaries (ASPPA) article discussing trends in government audits and investigations. “DOL Investigations: Establishing a Standard to Go By” highlighted Heather’s commentary at the ASPPA Annual Conference on October 25.
Heather and J.K. Nowiejski of Nova 401(k) Associates stated that the DOL is cracking down on retirement plan compliance with applicable law and regulation, and noted several reasons why an investigation may occur.
“How your respond and what you say is very important,” Heather said, stating that being glib or short may cause an agent to investigate. She added that “you never know what exactly your client will say,” noting that an employer may want to meet with its clients to prepare for the investigation in advance of meeting with the DOL.