Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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AimPoint Pension
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Compass
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Bates & Company, Inc.
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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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Mistakes Made in Processing Elective Deferrals -- Now What?
Ferenczy Benefits Law Center Oct. 3, 2018 "Two common [plan sponsor] errors ... are when they fail to implement an employee's election (so that intended deferrals are not made), or they process the election incorrectly so that the wrong amount is withheld from the employee's paycheck and deposited to the plan. When this happens, the employee ... was taxed on compensation that was supposed to be deferred, and the contribution failed to earn an investment return in the plan.... [This article discusses] how to fix elective deferral contribution mistakes." |
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