CALCULATING LOST EARNINGS
There are many rules and regulations plan sponsors must follow when operating a benefit plan. Mistakes are going to happen. ORBA can help guide you through the complexities of correcting any operational errors you many encounter.
One common correction involves calculating lost earnings on contributions that were not properly remitted into the plan or were not remitted on a timely basis. ORBA has helped many plans calculate these lost earnings as well as walk plan sponsors through the necessary steps to file and report the correction to the proper regulators.
If you find your plan is in need of correcting operational failures regarding missed or untimely contributions, ORBA’s Employee Benefit Plans Group can help calculate the lost earnings and ensure that error is corrected in a timely and efficient manner.