With Cycle 3 deadlines fast approaching, now is a great time to review your retirement plan. Measuring your retirement plan’s data provides key information to help increase its competitiveness, which can be extremely helpful in today’s labor market.
Benchmarking is a way to determine your retirement plan’s effectiveness. As relevant data is gathered, you can compare your plan to others of a similar size in your industry. Comparing your plan regularly can help identify more opportunities for improvement.
This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.
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