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Gallagher & Kennedy says it published Otto Shill’s article on retirement plan corrections
Gallagher & Kennedy said it published an article by Otto Shill examining how employers can address errors in retirement plan administration. The firm’s article discussed correction procedures for sponsors assessing compliance problems and distinguished voluntary correction programs from other approaches to resolving plan defects and related tax issues.
Key points
- Gallagher & Kennedy discussed late contributions, plan documents, loans and testing errors.Gallagher & Kennedy
- The firm examined the IRS Voluntary Correction Program.Gallagher & Kennedy
- Gallagher & Kennedy also addressed the Labor Department’s Voluntary Fiduciary Correction Program.Gallagher & Kennedy
- The firm discussed excise taxes and Form 5330 filings.Gallagher & Kennedy