Plan Correction Answer Book systematically details the steps necessary to correct qualification failures than can lead to the imposition of fees and sanctions. It provides the most current and comprehensive answers to the issues faced daily by plan administrators, benefits consultants, attorneys, and other pension professionals in the area of plan compliance. The author examines the range of remedial programs available, the penalties that can be imposed, and the unique qualification issues for 401(k) plans and ESOPs. Plan Correction Answer Book also outlines practices and procedures that ensure tax-qualified retirement plans are operated in accordance with Internal Revenue Code requirements.
The updated Second Edition of Plan Correction Answer Book discusses key administrative developments and changes, including the following:
- Summary discussion of Revenue Procedure 2008-50
- Extensive coverage of the IRS's Employee Plans Compliance Resolution System (EPCRS)
- In-depth examination of Revenue Procedure 2006-27
- And more!