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Sarbanes-Oxley is not a merlot

Sarbanes-Oxley is not a merlot

by Rick Turoczy on December 15, 2004

If you’re a business owner, you already know that. You are most certainly aware that the Sarbanes-Oxley Act of 2002 is a piece of post-Enron legislation that rewrote the rules of corporate responsibility, accountability and oversight. Among other things, this act has some real implications for retirement plans when changing providers. Sarbanes-Oxley requires plan sponsors to give participants and beneficiaries 30 days advance notice of a blackout period or face financial penalties.

These blackout periods are typical when a plan transitions from one provider to another. During the period when assets are actually transferred between providers, old records are reconciled, and new records are established.

Sarbanes-Oxley is not a merlot

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