jasdlm Posted March 9, 2021 Report Posted March 9, 2021 New Nonprofit client. Discovered they have been overcontributing to their 457 plan (basically treating it like a 401(k)) for as far back as I've checked. Any way to avoid disqualifying the entire plan? I can, of course, correct 2020 by 15 April, but does anyone have any experience with prior years? Best to simply correct 2020 and going forward and hope for the best? Thanks for any thoughts/advice. Quote
jasdlm Posted March 9, 2021 Author Report Posted March 9, 2021 Sorry. Hit submit too soon. I'm particularly wondering if anyone has had recent experience with the VCP for 457 plans. I know it's outside of ECPRS. I'm hoping that VCP has become more friendly. Also, as I asked, wondering if anyone feels the best option is to correct 2020 and move forward. Quote
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