How Self-Auditing the Retirement Plan Prevents Compliance Issues Down the Line plansponsor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from plansponsor.com Daily Mail and Mail on Sunday newspapers.
One of the most basic duties of a defined contribution plan sponsor is to ensure that that there is no delay and participants’ salary deferral elections are correctly and timely.
Ali Khawar, of the Employee Benefit Security Administration, indicated that the agency may be set to finalize amendments to the fiduciary correction program in the coming months.
The Employee Plans Compliance Resolution System (“EPCRS”), as set forth in Revenue Procedure 2021-30, allows plan sponsors to correct “Qualification Failures,” which are defined as any.