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IRS Updates Rules for Fixing Botched 401(k) Contributions
Original: Did Your Employer Botch Your 401(k) Contributions? The IRS Updated the Rules for Fixing It
The IRS has revised its rules on how employers must correct mistakes in employees' 401(k) contributions. The changes matter for workers whose contributions were missed, delayed, or calculated incorrectly, as the updated guidance outlines the steps employers must take to fix errors. Financial outlets are highlighting what workers should know about their rights and remedies.
Why now: Workers and employers are paying attention because plan administration errors are common and the new correction rules affect retirement savings.
Evidence
- Did Your Employer Botch Your 401(k) Contributions? The IRS Updated the Rules for Fixing It · 24/7 Wall St.
- Did Your Employer Botch Your 401(k) Contributions? The IRS Updated the Rules for Fixing It · Yahoo Finance
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