k man
Jul 25 2000, 12:30 PM
Client has a 403(B) Plan. I need to know whather this issue can be corrected via TVC program. Plan document provides that the employer shall make non-elective contributions for each participant of 11% of compensation. In reality, the employees were given a choice of taking 11% in cash or receving contribution. most employees took cash. What, if any, is the problem with this? what is correction method?