Retirement Plan Errors Eligible for Self-Correction

From time to time, retirement plan sponsors encounter errors that need to be fixed in order to correctly administer their plans. While the resolution process for some issues can be complex and tedious, others can be quickly resolved using the IRS’ Self-Correction Program (SCP). Additionally, there are no fees, applications

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403(b) Plan Correction Options

Last year, the IRS significantly upgraded and expanded the corrective actions retirement plan sponsors are able to submit through the Employee Plans Compliance Resolution System (EPCRS).  The most notable change is the ability for sponsors of 403(b) plans to make corrections to certain plan failures. Until this upgrade, only plan

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Correcting Automatic Enrollment Errors

Managing your company’s 401(k) plan is no doubt a difficult task. There are many rules and regulations that must be followed, and as fiduciary of a 401(k) plan, you have certain responsibilities that are required under ERISA. When something is missed it can have an impact on a plan participant’s

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