Correcting 401(k) contribution errors involves identifying the mistake, adjusting future contributions and potentially making retroactive corrections to comply with IRS limits and plan rules. If you ...
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The Internal Revenue Service (“IRS”) recently updated its informal guidance about 401(k) plan errors. The updated materials contain simple guidance that is helpful for both identifying and correcting ...
Most 401(k) problems don’t start in the plan. They start in payroll. Plan sponsors tend to think of payroll as an administrative function and the 401(k) as a separate benefits issue. That separation ...
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