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Forfeitures and Other Unallocated Accounts in Retirement Plans Need Review
Warner Norcross + Judd LLP 
Aug. 22, 2024 "Recent developments spotlight issues with forfeiture and other unallocated accounts in defined contribution retirement plans, such as 401(k) plans: The IRS has set the deadline for plan forfeiture use. Participants in retirement plans have brought legal challenges to plan sponsors exercising discretion to use forfeitures to reduce employer contributions. Some plan providers are improperly mixing forfeitures with other unallocated funds." MORE >> |
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