The Problem
The surge in workload as the July 31 deadline for Form 5500 filing draws closer can often prove overwhelming for plan administrators.
- A major seasonal spike in workload with tight deadlines
- Significant penalties and fines apply in case of delays or errors
- Delays and errors can also result in a poor customer experience (CX) for sponsors
- Temporarily scaling up the workforce is challenging, but failing to do so overburdens administrators