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.

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Retirement Plan Products and Services

(Comptroller's Handbook, February 2014)

Provides an overview of services banks may provide to retirement plans

References

OCC Bulletin 2023-17, Third-Party Relationships: Interagency Guidance on Risk Management (June 06, 2023)

OCC Bulletin 2014-3, Retirement Plan Products and Services: Comptroller's Handbook Revisions and Rescissions (February 12, 2014)

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)