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Relationship Manager for Defined Benefit/Cash Balance Plans MM Daybright Financial
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Correction of Missed Deferral Opportunities
American Retirement Association [ARA]
[Guidance Overview] Sept. 24, 2025 "While the plan sponsor would have to contribute any matching contributions with earnings that were missed as a correction, because of the circumstances, no QNEC was required.... Relying on AI alone could have exposed the plan sponsor to a costly, unnecessary QNEC of $50,000 plus earnings in this example.... The IRS offers a framework for correcting this mistake through the Employee Plans Compliance Resolution System (EPCRS)[.]" MORE >> |
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