Judy Diamond Associates Analysis Reveals 57,000 401(k) Plans Failed Nondiscrimination Testing

Washington, D.C., June 24, 2014 – Judy Diamond Associates, the 401k plan intelligence provider of leading financial advisors, brokers and fund companies, today released a study revealing that 57,277 401(k) plans failed their most recent IRS nondiscrimination tests. These plans were required to return $794 million in 401(k) contributions to highly compensated employees, resulting in increased income taxes and lower retirement savings for the impacted participants.
Continue reading