Failed to Start Deferrals

[DP]

We have an employee who was eligible to begin deferrals on 1/1/99. She was not given election forms until 11/23/99. What is the corporation's responsibility to make up her "lost" deferrals and match. What about earnings?

[Guest ptpnthr]

I dislike being the bearer of bad news, but first look at what your plan says about this and then call your attorney. It may turn out to be not so bad.

[Earl]

rev. proc. 99-31 (i think) says company makes contribution to the participant in an amount eaqual to the ADP of that participant group for the portion of the year impermissably denied benefits. Same ACP. Plus earnings.