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Publisher: HR Dive
Author: No AuthorA ‘welcome development’: DOL proposes self-correction for retirement contribution mistakes
Under a new proposal, employers would be allowed to self-correct — and self-report — mistakes in retirement plan contributions. . Some limits would apply; among other things, businesses could only use the program for lost earnings under $1,000.Under a new proposal, employers would be allowed to self-correct — and self-report — mistakes in retirement plan contributions. . Some limits would apply; among other things, businesses could only use the program for lost earnings under $1,000.Tags: department of labor, voluntary corrections
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Publisher: KLB Benefits Law Group
Author: No AuthorCorrection War Stories (Part I): Oops, Was that Plan Compensation?
5 steps for amending plan disqualification failures and maintaining a plan’s tax-qualified status, along with an updated definition of compensation your retirement plan needs.5 steps for amending plan disqualification failures and maintaining a plan’s tax-qualified status, along with an updated definition of compensation your retirement plan needs.Tags: plan administration, voluntary corrections
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