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Benefits Plan

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  1. An employee was improperly excluded from participation in the employer's EACA 401(k) plan. In a matter of first impression (to me), the employee does NOT want to participate in the plan and does NOT want a QNEC for their own reasons; they are not being improperly influenced by the employer. I can hardly believe it myself. SCP is available, and if the plan sponsor does nothing, it risks penalties. That said, what are your thoughts regarding allowing the employee to retroactively opt out of the plan? The SCP correction would be to document the employee's voluntary opt-out.
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