Has Your Company 401(k) Plan Made These 11 Mistakes? | Payroll Link

It is critical to keep your company’s 401(k) plan in compliance with numerous federal laws and regulations. Plans that are found to be in violation risk expensive penalties and disqualification.

The IRS recently issued this list of 11 potential errors:

1. Has your 401(k) plan document been updated within the past few years to reflect recent law changes?

2. Are the plan’s operations based on the terms of the plan document?

3. Is the plan’s definition of compensation for all deferrals and allocations used correctly?

Read More

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s