In an excess benefit plan, the sponsor failed to start contributions for one participant, .......

[Guest jhilliard]

What is an acceptable correction for this situation?

1) Can the sponsor (with the participants consent ) double up on the next few contributions to make it up?

2) Do the missed contributions have to be made up?

Any suggestions would be appreciated!

Thanks

Confused in non-qualified land!

[Guest wmacdonaldrcg]

With a nonqualified plan, you are not required to "fund" your plan. The participant in your question still has a benefit coming, and you should adjust the accrual on your books for accounting purposes. If you are informally funding the plan, you can double up on your contributions to catch up. Hope this helps.

William L. MacDonald

President & CEO

Retirement Capital Group

www.retirementcapital.com