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EBSA Proposes Adding Self-Correction Component to VFCP
American Retirement Association [ARA] 
[Guidance Overview] Nov. 21, 2022 "The most significant change is a proposal to add a new self-correction feature for certain failures to timely transmit participant contributions (and participant loan repayments) to pension plans.... This feature will enable employers and other plan officials to notify EBSA electronically that they have self-corrected certain failures ... The proposed self-correction component can only be used if [certain] conditions are met." MORE >> |
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