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Operational Non-Compliance in ERISA Qualified Plans Can Cause Problems for Employers
Aiken & Aiken PC 
[Guidance Overview] Sept. 15, 2008 Excerpt: According to the IRS, some of the reasons employers give to explain why their plans are not operationally compliant include: Not knowing how to identify and fix any errors. Not wanting to have any unnecessary contact with the IRS. Assuming that the required annual financial audit identifies any errors that need to be addressed. Assuming that auditing the plan for operational compliance would be too expensive. |
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