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ERISA 01: Correcting Elective Deferral Failures
Presentor: David Schultz Recorded Date: 11/13/2015 Duration: 60 Min.

This program was recorded during a live presentations given on November 13, 2015 at 12:00PM EST.

2015 brought us new guidance regarding the correction of elective deferral failures under the IRS’s EPCRS program. The new correction methods offer additional, and often less costly, correction methods than were previously available. The new rules can be used immediately, and are in addition to the correction methods available under Revenue Procedure 2013-12. This first segment of our ERISA Workshop will focus on these new rules and review related recommendations for minimizing elective deferral issues. Of course, there is always time for your questions.

Topics include:

  • Elective deferral failures defined
  • Improper exclusions
  • Auto escalation issues
  • Revenue Procedure 2015-28
  • Approved correction methods
  • New notice requirements
  • "Traditional" EPCRS correction methods
  • Proper elective deferral procedures

There are no prerequisites or other advanced preparation for this program. The speaker will expect attendees will have a general understanding of the operation of 401(k) and other retirement plans.

Level: Intermediate. The speaker will assume attendees have a basic familiarity with the elective deferral procedures and EPCRS.

Instructional Delivery Method
Group – Internet-Based

Speaker: David Schultz, J.D.

Objectives: After attending this Web seminar, an attendee should be able to:

  • Identify the various types of elective deferral failures
  • Understand the approved correction methods available under EPCRS
  • Determine the best correction method for a given failure
  • Identify prudent elective deferral procedures

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