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Does a plan administrator waive any rights upon filing under the DFVCP?

April 26, 2017Administrator dfvcp filing Plan Rights waive

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Does a plan administrator waive any rights upon filing under the DFVCP?

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Yes. Payment of the penalty amount under the terms of the DFVCP constitutes, with regard to the filings submitted under the Program, a waiver of the right both to receive notice of the assessment from the Department and to contest the Departments assessment of the DFVCP penalty amount.