ERISApedia.com has released its latest online compliance title, the Plan Corrections eSource.
It addresses all the common and not-so-common retirement plan blunders and provides step-by-step instructions for making things right again. From overpayments to missed deferrals, from late deferrals to late returns, from self-correction to voluntary compliance program (VCP) to audit closing agreement program (CAP), the eSource walks retirement plan professionals through the available corrections and offers practical suggestions.
The Plan Corrections eSource is written by Alison J. Cohen, J.D.; Ilene H. Ferenczy, J.D., CPC, APA; and S. Derrin Watson, J.D. Collectively, the authors have fixed thousands of plans and they share the insights that only such experience can garner.
“Mistakes happen. And when it comes to retirement plans, they happen a lot. The complexity of plan terms and designs, the volumes of legal requirements, employer unwillingness or inability to follow clear directions, and our human capacity to mess up guarantee that there will be failures,” Watson says.Ferenczy says, “We included hundreds of examples, many drawn from real cases, to illustrate the issues involved. We also included dozens of practice tips that go beyond the voluminous rules and we have tried to share our experience with our readers.”