Employee Benefits-IRS Discusses VCP Submission Kit, Which Is Available To Correct The Failure To Adopt A New Pre-Approved Defined Contribution Plan By The April 30, 2016 Deadline

To continue my blogs of the two previous days, the VCP Submission Kit, according to the IRS, is for plan sponsors that maintain a pre-approved defined contribution plan but failed to adopt a new plan document by April 30, 2016, and are correcting the failure by adopting a pre-approved defined contribution retirement plan that reflects the provisions of the Pension Protection Act (the “PPA”). The discussion about the VCP Submission Kit is here.