What are the consequences of defects or unintended administrative errors?
The final regulations clarify and confirm that the consequences of a “defect” in a participant’s account, such as an uncorrected excess contribution or an impermissible distribution, do not extend to innocent participants. Of course, this does not change the rule that plan-level defects, such as documentation defects and applicable retirement plan discrimination defects, can affect every participant.
Related Questions
- How will standards be upheld in the video submissions? What will the consequences be for missing full extension on a rep, or other errors?
- What are the calorie and fat requirements for each meal? How do these requirements have unintended negative consequences?
- What are bile acid defects (inborn errors of bile acid metabolism)?
