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Nondiscrimination Testing for 401k Plans: Avoiding HCE Refunds

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Frustrated 401k plan sponsor

As an HR professional, “March Madness” more likely means failing nondiscrimination tests (ADP/ACP) and scrambling to make refunds or corrections than it does filling out your NCAA basketball tournament brackets! Most plans correct nondiscrimination failures by refunding excess contributions or excess aggregate contributions (for match) to highly compensated employees (HCEs). The following are both reactive [...]

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