Wednesday, July 15, 2009

Is it Still Possible to Fix Unvested Arrangements?

Article suggests that it is not too late to fix arrangements if they are not yet vested.

Link From ComplianceWeek

"In most cases, an employer with a plan document failure can only report the violation, fix the problem so that it doesn’t affect any future deferrals, and possibly make a tax gross-up payment to an employee who gets hit with the tax, penalty, and interest for a violation. However, the authors note that employers may have a limited opportunity to correct errors for certain types of non-compliant plans that impose vesting conditions, such as severance arrangements."

1 comment:

Goudie said...

"Men do less than they ought, unless they do all they can." - Thomas Carlyle