DMcGovern Posted May 23, 2022 Posted May 23, 2022 Client has an auto-enrollment 401(k) plan. They did a QNEC for a group of participants for missed deferral opportunity a few months ago and just realized some of them received an amount that was too high. All impacted participants are NHCEs. I'm not finding a correction for this. Let the participants know of the error and forfeit? Thanks for your help!
Nate S Posted May 27, 2022 Posted May 27, 2022 Confirm that the excess doesn't violate the bottom-up restrictions and leave anything that's ok in place. You can forfeit any excess that doesn't pass the targeted hierarchy.
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