chris Posted October 17, 2001 Posted October 17, 2001 Is there any correction procedure such as EPCRS for 401(a), 403(B) and SEP's for dealing with excess deferrals in a 457 plan? It doesn't appear that EPCRS would apply to a 457 Plan. Is it just a matter of distributing the excess deferrals and adding the amounts to the participants' W-2's? The employer is a non-profit healthcare organization which maintains a 457 and a 401(k). It just recently found out that a number of participants have exceeded the 457(B) limit for a number of years. Is there anything from the plan side with respect to the IRS' overseeing the correction to insure qualification is maintained?
Recommended Posts
Archived
This topic is now archived and is closed to further replies.