Guest awea Posted June 21, 2012 Posted June 21, 2012 Our directors deferred compensation plan has an operational failure with respect to a former director. Whether or not she is still considered to be a director will impact which correction we use. She was no longer a director at the time of the failure. The more concervative approach is to treat her as an insider, but I'm not sure this is appropriate since the language in Notice 2008-13 contemplates the present tense "is a director." Any thoughts?
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