Compass
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AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Loan & Distribution Specialist AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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Bates & Company, Inc.
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True-Up Contribution Provisions
Belfint Lyons Shuman Oct. 16, 2019 "[A] plan that doesn't match the catch-up AND doesn't have a true-up provision faces an unintended consequence: Catch-up-eligible participants that can never get the maximum match to which younger participants are entitled.... [Rev. Proc. 2019-19] allows plan sponsors to self-correct through plan amendment when: [1] The amendment conforms the plan document to actual operations; [2] A benefit, right, or feature of the plan would increase as a result of the amendment; [3] The increase applies to all eligible employees; and [4] Providing the increase is consistent with the procedure's correction principles." |
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