Attorney Jeremiah Wood spoke earlier today at the ASCPA 2018 Employee Benefits Conference in Little Rock. The all-day event featured speakers focused on educating attendees on plan audits, errors, management, fees and other related topics.
Jeremiah presented "Correcting Common Plan Errors" alongside Senior Manager Jill Pierce from HoganTaylor, LLP.
This presentation focused on how the plan administrator can correct certain errors made during the administration of a retirement plan (401(k) plans, 403(b) plans, 457(b) plans, etc.) and what to do if these are found by the auditor. Some examples of common errors made are plan loan failures, automatic enrollment failures, elective deferral failures, required minimum distribution failures and compensation failures.
Jeremiah practices in the firm’s Employee Benefits and Executive Compensation Practice Group. His practice includes experience in the design, implementation, administration and termination of tax-qualified retirement plans (including traditional pension plans, cash balance plans, profit sharing plans, 401(k) plans, and ESOPs), 403(b) plans, nonqualified deferred compensation plans (including 457(b) and 457(f) plans and deferral compensation arrangements for executives) and health and welfare plans.