Featured Jobs
|
Pattison Pension
|
|
MAP Retirement
|
|
Plan Administrator, Defined Benefit & Cash Balance The Pension Source
|
|
Strategic Retirement Plan Consultant Retirement Plan Consultants
|
|
Regional Vice President, Sales MAP Retirement
|
|
Defined Benefit Plan Consultant/Actuarial Analyst Sentinel Group
|
|
BPAS
|
|
DWC - The 401(k) Experts
|
|
MAP Retirement
|
|
Retirement Relationship Manager MAP Retirement
|
|
Sentinel Group
|
Free Newsletters
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
|
|
|
Making Retroactive Corrective Amendments Using the IRS Self-Correction Program Instead of the VCP
FIS Relius 
[Guidance Overview] Mar. 31, 2013
"In general, correction of an operational error requires the plan sponsor to put the plan and the participants in the position they would have been if the error had not occurred. If the correction requires the plan sponsor to amend the plan, the [EPCRS] generally requires the plan to file under the Voluntary Correction Program (VCP). However, EPCRS provides five situations in which a plan sponsor may adopt a retroactive corrective amendment under the Self-Correction Program (SCP) and not have to file under VCP."
|
| Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
| An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |