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Should the 15-Year 403(b) Catch-Up Election Be Eliminated?
PLANSPONSOR; free registration may be requiredLink to more items from this source
June 30, 2015

"[T]he election is among the most difficult to calculate in the defined contribution arena, requiring contribution data for the entire working career of an individual employee.... 15-year catch-up calculations are one of the primary issues identified in IRS audits, and lack of compliance appears to be widespread; and ... legitimate utilization of the election is often low ... [M]ore and more plan sponsors who previously permitted the 15-year catch-up election have simply decided to eliminate it ... [It] is indeed an elective, and not a mandatory, plan provision, so it may be eliminated via plan amendment[.]"

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