Search Results for: making a bad situation worse

Making a Bad Situation Worse: An -11g Corrective Amendment Allocating to a Non-Vested Terminated Employee

When a plan fails the minimum coverage requirements of Code section 410(b), or the nondiscriminatory amount requirement of Treasury Regulation 1.401(a)(4)-1(b)(2), or the nondiscriminatory plan amendment requirement of Treas. Reg. 1.401(a)(4)-1(b)(4), the IRS permits the plan sponsor to adopt a … Continue reading

Fail-Safe Provisions in Plan Document not Always a Good Idea

While I like a good fail-safe provision as much as the next ERISA geek, it is not always the most cost-efficient way to correct a nondiscrimination or coverage failure. The attorney who taught me how to write plan documents used … Continue reading