Tax-favored retirement plans (qualified plans) have historically been designed to provide savings for retirement, and therefore have been focused on increasing savings and restricting withdrawals.
Plan sponsors can make additional corrections via SCP, rather than VCP, while a “reasonable amount of time” to discover an error is defined as 18 months.
Multiple employer plans ("MEPs") have long struggled with the historic rule that provides that if a single plan sponsor in a MEP fails the plan qualification rules.