ERISA Compliance Checklist

I. Compliance Program Overview

Objective:	To ensure [YOUR COMPANY NAME] complies with the Employee Retirement Income Security Act (ERISA) and related regulations.
Responsible Party:	[YOUR NAME], [YOUR DEPARTMENT]
Date of Last Review:	[DATE]
Next Scheduled Review:	[DATE]
Review Schedule:	Bi-annually or as required by changes in ERISA or other applicable laws.

Ensure ERISA compliance by reviewing current retirement and benefit plans.
Assign a compliance officer to oversee ERISA compliance.
Establish a clear timeline for implementing ERISA compliance measures.
Regularly review and update ERISA compliance efforts as needed.

II. Plan Documentation

Ensure ERISA employee benefit plans have proper plan documents, SPDs, and amendments.
Review plan documents regularly to ensure they accurately reflect plan provisions and comply with ERISA requirements.
Distribute updated SPDs and plan documents to participants as required by ERISA regulations.

III. Fiduciary Responsibilities

Document all fiduciaries managing employee benefit plans.
Set up procedures for fiduciary supervision, including investment choices, plan administration, and ERISA compliance.
Record decisions and actions related to employee benefit plan administration.

IV. Reporting and Disclosure Requirements

Submit necessary reports and disclosures, including Form 5500 and Form 5500-SF, to the DOL.
Supply participants with necessary disclosures like SARs, SMMs, and SBC documents.
Ensure disclosures are provided to participants in a timely and understandable manner.

V. Plan Investments

Implement a prudent process for selecting and monitoring plan investments in compliance with ERISA's fiduciary standards.
Review investment options regularly and make adjustments as necessary to ensure they are appropriate and in the best interest of plan participants.
Document investment-related decisions and the rationale behind them.

VI. Prohibited Transactions

Establish procedures to identify and prevent prohibited transactions, including transactions between the plan and parties in interest.
Monitor transactions involving plan assets to ensure compliance with ERISA's prohibited transaction rules.
Obtain necessary exemptions or prohibited transaction exemptions (PTEs) for transactions that may violate ERISA's rules.

VII. Participant Rights and Protections

Inform plan participants about their ERISA rights and protections, including benefits info and appeal rights for denied claims.
Establish procedures for handling participant inquiries, claims, and appeals in accordance with ERISA's claims procedure requirements.
Provide participants with access to plan information and benefit statements as required by ERISA regulations.

VIII. Recordkeeping and Compliance Documentation

Maintain accurate records of plan transactions, participant communications, and fiduciary decisions.
Document compliance efforts, including plan reviews, audits, and corrective actions taken to address compliance deficiencies.
Retain records for the required retention period specified by ERISA regulations.

IX. Training and Education

Provide training to plan fiduciaries, administrators, and other relevant staff members on ERISA requirements and their responsibilities.
Offer periodic training sessions and updates to ensure staff members are aware of changes in ERISA regulations and compliance best practices.
Encourage ongoing education and professional development for individuals responsible for plan administration and compliance.

X. Signature

I, [YOUR NAME], hereby acknowledge that I have reviewed and understand the contents of this ERISA Compliance Checklist. I am committed to upholding the standards outlined herein and ensuring compliance with the Employee Retirement Income Security Act (ERISA) and related regulations at [YOUR COMPANY NAME].

[YOUR NAME]
Compliance Officer
[YOUR COMPANY NAME]
[YOUR COMPANY ADDRESS]

Date: