Reviewing IRA provider agreements for automatic rollovers.

The article presents an interview with Roberta Casper Watson, an ERISA specialist. He explained about certain conditions of the safe harbor regulations. Plan sponsors and fiduciaries need to make sure that the agreement complies with the Department of Labor safe harbors. Certainly it's reasonable for a provider to ask to be indemnified if the employer gives them wrong information. In some cases they want the employer to indemnify them if they ever have any problems whatever regarding the IRA. He further explained that there's an issue about whether participants have to be able to rely on the specific agreement between the employer and provider, or whether it's enough that these commitments are included in a separate agreement that governs the IRA itself.