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Too Little, Too Late? Plan Contribution Timing Requirements and How to Correct Delays | Bricker Graydon LLP

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. ....

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Kristy de Vos, Employment benefits Paralegal, Varnum.

Kristy de Vos, Employment benefits Paralegal, Varnum.
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IRS Issues Interim EPCRS Correction Guidance Under SECURE 2.0

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. ....

Elizabeth Dold , Groom Law Group , Correction Program , Revenue Service , Department Of Labor , Internal Revenue Service , Self Correction Program , Voluntary Correction , Employee Plans Compliance Resolution System , Voluntary Fiduciary Correction ,

White House News February 14, 2023

Spacelabs Healthcare pays $2.5 million to settle allegations of overcharging federal agencies. USDA strategic approach and investments for water supply producers in the west. Wildland Fire Mitigation and Management Commission strategy to meet aerial firefighting equipment needs. ....

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Rules for Sponsor Self-Correction Broadened by Both SECURE 2.0 and DOL Proposal

The DOL made a proposal to expand the VFCP in November 2022, and SECURE 2.0 also made changes to IRS and DOL corrections programs. ....

Jason Lee , Morgan Lewis , Matt Hawes , Industry Committee , Groom Law Group , Correction Program , Department Of Labor Voluntary Fiduciary Correction Program , Department Of Labor , Voluntary Fiduciary Correction , Self Correction Program , Employee Plans Compliance Resolution System , Voluntary Correction Program , Voluntary Fiduciary Correction Program ,