Steve Waddo Posted March 12, 2015 Posted March 12, 2015 We are consulting on a 403(b) plan that has had an ADP test run (and refunds processed) for the past several years. Anyone have any thoughts about a correction method? Thanks.
Kevin C Posted March 13, 2015 Posted March 13, 2015 My first step would be to push for replacing the service provider who was responsible. Then, if the affected participants did not have other accounts that were eligible for in-service distribution at the time, I would turn to Rev. Proc. 2013-12's correction method for overpayments.
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