MJ Hartman Posted December 4, 2001 Posted December 4, 2001 A new not for profit org. was established in july 2001. it was created from combining 2 other organizations which had 403b plans. The new not for profit is setting up a 401k planasap. It has been found that payroll from the new company has been continuing to pay 403 deferrals into the accounts of employees who were former employees of one of the old groups that are now in the payroll in the new company. (in summation, they mixed oil & water)... Can these deferrals be returned/refunded as a mistake of fact and run through payroll correctly for 2001 in the new not for profit? any comments/help is appreciated. fortunately our company is only working on the new plan, not the termination/dissolution of the old plans.
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