I use the expression \u201cgarbage in, garbage out\u201d if an end of year census report is done incorrectly and the third party administrator (TPA) doesn\u2019t pick up the error.<\/p>\n
When given that census request at the beginning of the new year, you need to make sure that the information you provide is correct. When it comes to identifying employees as highly compensated and\/or key employees, errors will come back to haunt you in terms of incorrect compliance testing and possibly failed required minimum distributions.<\/p>\n
TPAs aren\u2019t baby sitters and most will assume that then information you provide is correct, so it\u2019s on you to be right.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" I use the expression \u201cgarbage in, garbage out\u201d if an end of year census report is done incorrectly and the third party administrator (TPA) doesn\u2019t pick up the error. When given that census request at the beginning of the new … Continue reading