Compensation Strategies Group, Ltd.
Nicholas Pension Consultants
Atlantic Pension Services Inc
Nova 401(k) Associates
The Retirement Plan Company (TRPC)/an ABG firm
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|Relief for Elective Deferral Failures (PDF)|
Pentegra Retirement Services
Sept. 15, 2015
"[Rev. Proc. 2015-28] presents three new methods for correcting elective deferral failures in 401(k) and 403(b) plans.... Under all [three] new correction methods, the employer must also:  Make a matching contribution in the amount the participant would have received had the deferrals been handled correctly in the first place;  Provide a notice to the affected participants within 45 days of the date on which the proper deferrals started occurring; and  Calculate (and contribute) lost earnings for any corrective contributions the employer is required to make."
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