The worst thing you can do is to handle things that you can’t. The one thing that plan sponsors can’t handle and shouldn’t is when they are contacted by the Internal Revenue Service and Department of Labor for an audit of their retirement plan.
Calling an ERISA attorney is the way to go because plan sponsors can’t handle it on their own. This isn’t a home project from Home Depot, this is something they can’t handle on their own. Plan sponsors don’t have the experience to handle it on their own and usually offer more information than they need to provide, which can land them in trouble.
