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401k › Retirement Plan › Self-Correction Programs

Holland & Hart - The Benefits Dial

You Live, You Learn… Correcting “Qualification Failures” under the Self-Correction Program

Holland & Hart - The Benefits Dial on

The Employee Plans Compliance Resolution System (“EPCRS”), as set forth in Revenue Procedure 2021-30, allows plan sponsors to correct “Qualification Failures,” which are defined as any plan document, operational, demographic...more

Fisher Phillips

IRS Grab Bag Brings Clarity to Certain SECURE Act 2.0 Provisions: 6 Biggest Points for Employers

Fisher Phillips on

Employers that sponsor retirement plans continue to have a lot on their plate. With SECURE Act 2.0 requirements now in play, this legislation continues to add more and more to your (already) overflowing plate. However, as is...more

Holland & Hart - The Benefits Dial

Simply Irresistible…To Not Seek Recoupment of Overpayments

Holland & Hart - The Benefits Dial on

by Lyn Domenick Many retirement plan errors are inadvertent and involve small dollar amounts. However, the work involved in correcting such errors can be time consuming and burdensome. Fortunately, SECURE 2.0 provides that...more

Pullman & Comley - Labor, Employment and...

Secure Act 2.0 Creates Greater Opportunities for Self-Correction of Retirement Plans

Pullman & Comley - Labor, Employment and... on

Since 1998 the Internal Revenue Services (the “IRS”) has had a comprehensive employees plans correction program with three components: self-correction (SCP), voluntary correction with IRS approval including related user fee...more

FordHarrison

SECURE 2.0 Requires Major Changes to Retirement Plans and EPCRS

FordHarrison on

Executive Summary: On December 23, 2022, the Consolidated Appropriations Act of 2023 was passed by Congress, which included the SECURE 2.0 Act of 2022 (“SECURE 2.0” or “the Act”). This legislation greatly impacts retirement...more

Bradley Arant Boult Cummings LLP

SECURE 2.0: Retirement Plan Changes for 2023

Bradley Arant Boult Cummings LLP on

The SECURE 2.0 Act of 2022 was enacted at the end of last year as part of the Consolidated Appropriations Act of 2023. The act sets forth a number of changes affecting retirement plans that go into effect over several years....more

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