PLANSPONSOR - August/September 2021 - 38

FIDUCIARY FOCUS
Mistakes Happen
Common errors that occur and how the EPCRS helps to correct them
N
obody's perfect. It follows then that retirement plans aren't
perfect, and often mistakes happen. The IRS recognizes
this and implemented the Employee Plans Compliance
Resolution System (EPCRS) to provide procedures to allow plan
sponsors to make corrections. Recently, the agency updated those
correction procedures. This got us thinking that our readers may
find it useful to read about some common plan errors-both
under the Internal Revenue Code (IRC) and Employee Retirement
Income Security Act (ERISA).
Compensation
Yes, everyone cares about compensation, but retirement plan
administrators should really care about compensation, as
what is included or excluded in the definition of compensation
for plan purposes is probably one of the most common
errors we see. Too often a new pay code is added without the
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PLANSPONSOR - August/September 2021

Table of Contents for the Digital Edition of PLANSPONSOR - August/September 2021

To Ensure All Are Well
2021 PLANSPONSOR National Conference
Equipped for Anything?
The Security of Savings
Take a Load Off
PLANSPONSOR - August/September 2021 - Cover1
PLANSPONSOR - August/September 2021 - Cover2
PLANSPONSOR - August/September 2021 - 1
PLANSPONSOR - August/September 2021 - 2
PLANSPONSOR - August/September 2021 - 3
PLANSPONSOR - August/September 2021 - 4
PLANSPONSOR - August/September 2021 - 5
PLANSPONSOR - August/September 2021 - 6
PLANSPONSOR - August/September 2021 - 7
PLANSPONSOR - August/September 2021 - 8
PLANSPONSOR - August/September 2021 - 9
PLANSPONSOR - August/September 2021 - 10
PLANSPONSOR - August/September 2021 - 11
PLANSPONSOR - August/September 2021 - 12
PLANSPONSOR - August/September 2021 - 13
PLANSPONSOR - August/September 2021 - 14
PLANSPONSOR - August/September 2021 - 15
PLANSPONSOR - August/September 2021 - To Ensure All Are Well
PLANSPONSOR - August/September 2021 - 17
PLANSPONSOR - August/September 2021 - 18
PLANSPONSOR - August/September 2021 - 19
PLANSPONSOR - August/September 2021 - 2021 PLANSPONSOR National Conference
PLANSPONSOR - August/September 2021 - 21
PLANSPONSOR - August/September 2021 - 22
PLANSPONSOR - August/September 2021 - 23
PLANSPONSOR - August/September 2021 - 24
PLANSPONSOR - August/September 2021 - 25
PLANSPONSOR - August/September 2021 - 26
PLANSPONSOR - August/September 2021 - 27
PLANSPONSOR - August/September 2021 - 28
PLANSPONSOR - August/September 2021 - 29
PLANSPONSOR - August/September 2021 - Equipped for Anything?
PLANSPONSOR - August/September 2021 - 31
PLANSPONSOR - August/September 2021 - 32
PLANSPONSOR - August/September 2021 - 33
PLANSPONSOR - August/September 2021 - The Security of Savings
PLANSPONSOR - August/September 2021 - 35
PLANSPONSOR - August/September 2021 - Take a Load Off
PLANSPONSOR - August/September 2021 - 37
PLANSPONSOR - August/September 2021 - 38
PLANSPONSOR - August/September 2021 - 39
PLANSPONSOR - August/September 2021 - 40
PLANSPONSOR - August/September 2021 - Cover3
PLANSPONSOR - August/September 2021 - Cover4
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