Tax-qualified retirement plans, including 401(k) and defined benefit pension plans, are governed by a complex framework involving regulations promulgated by the Internal Revenue Service (IRS) and Department of Labor (DOL).The Internal Revenue Code (IRC), enforced by the IRS, imposes qualification requirements in exchange for favorable tax treatment for plan participants and employers. The Employee Retirement Income Security Act of 1974 (ERISA), enforced by the DOL, establishes fiduciary standards requiring plan administrators to act prudently and solely in the interest of plan participants, including a myriad of administrative tasks.