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Using Voluntary Correction Programs to Correct Common Health and Retirement Plan Errors

Lorman Education Services

May 29, 2020
Recorded Online
Webcast

Learn how to properly correct errors on your company’s qualified retirement plans and minimize penalties.

Although sponsors of employee benefit plans are all likely aware of the importance of maintaining their plans in compliance with applicable laws such as the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code, they may not be aware of what to do when a mistake occurs regarding plan administration. Depending on the situation, one option may be to utilize a voluntary correction program offered by the Department of Labor or the Internal Revenue Service.

This topic is intended to provide you with helpful and easy to use information regarding these programs so that in the event that you should ever need to utilize one, you know where to begin.

Learning Objectives:

  • You will be able to define terms relevant to employee benefit plan voluntary correction programs.
  • You will be able to describe how plan errors occur and how to prevent them.
  • You will be able to explain the differences between available voluntary correction programs for employee benefit plans.
  • You will be able to identify common employee benefit plan errors and which voluntary correction programs are available to correct them.

Faculty: Gabrielle (Gabby) A. Hansen, Associate, Barran Liebman, LLP

More Information, How to Register

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