Compass
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Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Regional Vice President of Sales The Retirement Plan Company
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AimPoint Pension
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Self-Correcting a Failure to Enroll a New Employee in Our Automatic 401(k) Contributions
Thomson Reuters / EBIA Dec. 16, 2021 "The standard method for correcting full-year elective deferral failures (including enrollment failures under an automatic contribution arrangement) involves making a qualified nonelective contribution (QNEC) for 50% of the missed deferrals plus a contribution for the full amount of any missed matching or nonelective contributions. But lower-cost methods may be available if the correction is made within specified timeframes." |
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