exceeding 415 limit and plan doc language

[Tom Poje]

This was from the Winter 2008 Employee Plan News (subscription is free from the IRS)

I know this issue has been raised before, here is the official word from the IRS, common Plan Language errors:

Defined contribution plans still include correction methods for excess annual additions in §1.415-6(b)(6) of the 1981 regulations. However, the final regulations issued in 2007 deleted the permitted correction methods in the 1981 regulations. Plans that include a correction method in the event a participant would exceed the annual additions should be amended to delete the language effective for limitation years beginning on or after July 1, 2007.

......

Thats because you correct the problem using EPCRS