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DOL Updates Voluntary Fiduciary Correction Program to Add a New Self-Correction Option (PDF)
Roberts & Holland LLP 
[Guidance Overview] Apr. 30, 2025 "[F]or plan sponsors seeking to correct delinquent payments to retirement plans, the new SCC program can only be used if lost earnings do not exceed $1,000 per payroll period and the delinquent payments have been remitted to the plan within 180 days. As such, large plans may not be able to benefit from using the SCC rather than a full VFCP application[.]" MORE >> |
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