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Showing results for tags 'Drafting Error'.
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Employer knowing their plan would be top heavy for 2014, intended to implement safe harbor provisions for existing 401(k) starting 1/1/2015 providing instruction to service provider in early-December 2014. Document was restated and a 4% match with 100% vesting added in order to comply with Safe Harbor requirements. Many, but not all employees made changes to increase their deferrals before 1/1/2015. The plan has been operated according to Safe Harbor rules throughout 2015. However the prototype plan adoption agreement did not have the box for the Safe Harbor election checked when it was signed in 12/2014. How can the document be corrected to accurately show that it is a Safe Harbor plan? Much documented evidence of employer intent and instructions to document preparer going back over a year.
