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Interesting Compliance Scenarios - 2021 Edition

DWC 03/18/21
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What is a Suspense Account and Can We Use Our Forfeiture Account Instead?

DWC 12/3/19
Facts The annual compliance report that our TPA provided to us indicates that we over-funded matching contributions for certain employees and instructs us to transfer the excess amounts out of the affected participants’ accounts and into a plan suspense account. The only problem is that I am not sure what a suspense account is. When I spoke to our ...
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