Employee Benefits and Retirement Plan Services
The Employee Retirement Income Security Act of 1974 (ERISA, sections 401-409) and the Internal Revenue Code are the primary sources of law governing the structure, administration, and operation of employee benefit plans. Offering retirement plan services exposes national banks to a range of risk factors, including compliance risk, reputation risk, operational risk, and strategic risk. Banks must be proactive and adequately manage these risks.
Retirement Plan Products and Services
(Comptroller's Handbook, February 2014)
Provides an overview of services banks may provide to retirement plans
- OCC Bulletin 2014-3, "Retirement Plan Products and Services: Comptroller's Handbook Revisions and Rescissions" (February 12, 2014)
- OCC Bulletin 2013-29, "Third Party Relationships: Risk Management Guidance" (October 30, 2013)
- OCC Bulletin 2010-24, "Incentive Compensation: Interagency Guidance on Sound Incentive Compensation Policies" (June 30, 2010)
- OCC Bulletin 2008-10, "Fiduciary Activities of National Banks: Annual Reviews of Fiduciary Accounts Pursuant to 12 CFR 9.6(c)" (March 27, 2008)
- OCC Bulletin 2007-7, "Soft Dollar Guidance: Use of Commission Payments by Fiduciaries" (February 5, 2007)
- OCC Bulletin 2006-24, "Interagency Agreement on ERISA Referrals" (June 1, 2006)
- OCC Bulletin 2004-20, "Risk Management of New, Expanded, or Modified Bank Products and Services: Risk Management Process" (May 10, 2004)
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