IRS Provides Relief for Correction of Elective Deferral Mistakes in 401(k) Plans
The IRS recently announced changes that make it significantly easier to correct employee deferral mistakes (also known as elective deferrals) in qualified retirement plans. The changes make modifications to the IRS’ Employee Plans Compliance Resolution System (“EPCRS”), which is the IRS’ comprehensive correction program for qualified retirement plans. Automatic Enrollment Correction Relief If a qualified […]
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3 min read
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Tagged: 401(k), 401(k) plan, automatic contribution, automatic enrollment, correction, elective deferral error, EPCRS, qualified retirement plans
Anne M. Meyer
Partner