Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Bates & Company, Inc.
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AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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Loan & Distribution Specialist AimPoint Pension
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Compass
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IRS Clarifies Key Step in Voluntary Correction Program
HR Benefits Alert Aug. 17, 2016
"[I]f a plan sponsor finds out it can't satisfy the compliance statement within the 150-day time period, it can reach out to the VCP specialist ... and request an extension. The plan sponsor needs to explain why the extension is necessary and, if it can't make the changes by the end of the approved correction period, its compliance statement becomes invalid. And if the deadline is missed, employers will have to do a whole new VCP submission with a new fee along with the previous compliance statement and the reasons why the corrections weren't completed."
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