Todd Hughes, Director, ERISA Services, ensures that clients are compliant with the ERISA regulations governing retirement plans.
Filing a correction with the federal government when a plan is out of compliance can cost plan sponsors tens of thousands of dollars. And according to Todd, plan sponsors rarely deviate from ERISA regulations intentionally. The rules and regulations that affect retirement plans change often; compliance requires in-depth research and constant vigilance. For many, day-to-day duties overshadow the complexities of acting as a plan sponsor. An experienced, insightful ERISA consultant is essential for anyone with fiduciary responsibility.
There is no regulation saying that you have to offer your employees a retirement plan. But, once you make the decision to offer that great benefit, you have a laundry list of regulations and compliance pieces that you have to adhere to. We are here to help clients make sure that their retirement plan is a benefit, not a burden.
Todd and his team work to keep clients in compliance with constantly changing DOL and IRS regulations. They condense an astonishing amount of research into a succinct summary so that clients can make informed decisions regarding their retirement plan quickly and return to their other work.
The firm’s QP Review process adds structure to annual plan reviews. To limit client risk, Todd leads his team to update the proprietary series of review questions to reflect each new ERISA regulation. Additionally, Pension Consultants’ ERISA Services team monitors the court system to better understand issues that may be boons or pitfalls to clients’ plans in the future.
Education, Designations and Experience
- Juris Doctor, Gonzaga University
- Bachelor of Arts, Public Relations, Pacific Lutheran University
- Director, Panagiotu Pension Advisors, Inc.
- Frequent lecturer of retirement industry topics for various professional organizations
In his free time, Todd enjoys the outdoors with his family and seeks out day-trip destinations they can explore together. He is also active in his church congregation.
What drives you to do what you do?
“ERISA law is highly technical, detailed and, to those who don’t specialize in it, confusing. But, ERISA regulations govern most Americans’ retirement plans, so they’re also very important. Our oversight helps our clients understand and follow the rules so that their plan is a benefit to all stakeholders.”