Nicholas Pension Consultants
Compensation Strategies Group, Ltd.
Nova 401(k) Associates
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|Employer Failed to Recognize Employees as Eligible for the 401(k)|
BenefitsLink Message Boards
Aug. 20, 2021
"I have an employer who failed to notify employees that they were eligible for the 401(k) plan. They thought they had an owner-only 401(k) plan (so they say!). I'm trying to determine the steps now to correct. I've reviewed EPCRS. I'm having trouble determine the corrective contribution because no NHCEs were able to defer so I have no average to give them and I can't find a default percentage when this occurs."
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