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Oops! Someone forgot to tell payroll about auto enrollment!


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Guest Rider
Posted

Plan Sponsor rolls out a 401(k) with 2% auto enrollment and a match, but the only salary deferrals actually contributed are for the employees that completed forms to have a greater amount withheld.

The participants who made no election have had no salary deferrals and thus no match.

I have not found any self correction procedures for auto enroll. What's the best course of action to correct?

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