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...more
12/30/2024
/ Compensation & Benefits ,
Employee Benefits ,
EPCRS ,
Financial Services Industry ,
Internal Revenue Code (IRC) ,
IRS ,
Regulatory Requirements ,
Retirement ,
Retirement Plan ,
SECURE Act ,
Self-Correction Programs ,
U.S. Treasury
Last summer, the Internal Revenue Service (IRS) announced that its periodic review of individually designed retirement plans to determine the plans’ qualified status will end effective January 31, 2017. In January 2016, the...more