Finance

Pension Plan Problems

4 issues to watch for
1 min read
Opinions expressed by Entrepreneur contributors are their own.

A number of qualified retirement plans contain some violations that will cause them to fail IRS plan qualification tests. Here are some of the most common ones:

  • Failure to keep the plan up to date to reflect changes in the law
  • Neglecting to get a spouse's notarized consent for an employee's plan distribution
  • Incorrectly following plan eligibility rules
  • Making improper loans from the plan and not fully documenting loans

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