by Lyn Domenick Many retirement plan errors are inadvertent and involve small dollar amounts. However, the work involved in correcting such errors can be time consuming and burdensome. Fortunately, SECURE 2.0 provides that...more
8/22/2023
/ 401k ,
Benefit Plan Sponsors ,
Compensation ,
Employee Retirement Income Security Act (ERISA) ,
Inadvertent Errors ,
Misrepresentation ,
Overpayment ,
Recoupment ,
Retirement Plan ,
SECURE Act ,
Self-Correction Programs
If you have participants in your retirement plan who are old enough to identify Carole King as the artist who released the song “It’s Too Late” some 50 years ago, this blog’s for you. Late payment of required minimum...more
On July 16, 2021, the IRS released updated Employee Plans Compliance Resolution System (EPCRS) guidance for Plan corrections in the form of Rev. Proc. 2021-30. The changes affect the three programs offered by the IRS for...more