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IRS Gives Plan Sponsors Welcome Relief for Automatic Enrollment Features
Strategic Benefit Services Link to more items from this source
[Guidance Overview]
June 2, 2015
"Recognizing that the potential cost of QNEC discourages employers from adopting automatic enrollment and/or automatic escalation features, IRS issued Revenue Procedure 2015-28 to modify the safe harbor correction methods for deferral failures within a 401(k) or 403(b) plan. This new corrective action not only encourages employers to adopt and/or to retain automatic enrollment features, but also encourages the early correction of missed deferrals, should they occur."

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