If the Deadline for Self-Correcting Retirement Plan Errors Is Indefinite, Why Do I Have to Hurry?
By EsqSocial Corporation 30/12/24
Section 305 of SECURE 2.0 added rules for self-correcting a new category of retirement plan errors under the Employee Plans Compliance Resolution System (“ECPRS”). Specifically, Section 305 allows an “eligible inadvertent failure” to be self-corrected at any time, even if the error is considered a “significant” operational error under EPCRS....
By: Dickinson Wright