Overview
Diane Morgenthaler cautioned employers to carefully consider any decision to shorten a 401(k) plan year, despite the seemingly simple rules involved. Ms. Morgenthaler said all of the major players—plan sponsor, recordkeeper, payroll vendor, attorney and human resources—should make a decision with the least impact on participants and their savings, assembling all pertinent information to document the business decisions for the action. Read the full article.
