Ask the Experts: Correcting Loan and Distribution Errors

ASPPA [American Society of Pension Professionals & Actuaries]

Administering retirement plans in 2020 was like no previous year.  With changes to distribution rules via the SECURE and CARES Act plus the sudden transition to remote work for many service providers and clients, the opportunity for processing errors increased.  

In this session we will review the options for correcting plans that had errors on amounts or repayments of loans and errors in processing distributions.  

Please submit questions to the speakers before the session so they can address scenarios that impacted you.

Learning Objectives:

• Get familiar with the IRS programs used to correct plans where too many or incorrect amounts on loans were issued
• Review the options that are available when loan repayments were late or never made
• Familiarize yourself with the options that plans have for correcting distribution failures, including not having correct documentation for the plan

Speakers:

• Robert M. Richter, J.D., LL.M., APM, Retirement Education Counsel, American Retirement Association
• Bob Kaplan, CFP, CPC, QPA, Director of Technical Education, American Retirement Association

More Information, How to Register