The Treasury Department and the IRS have issued new guidance making it easier for employers to correct unintended contribution errors in retirement plans featuring automatic enrollment and automatic escalation. 

It is the latest move by regulators aimed at encouraging sponsors to implement the savings features in retirement plans. 

"Treasury and IRS are taking another step to promote broader participation in 401(k) and similar plans by facilitating automatic enrollment and automatic contribution increases," J. Mark Iwry, senior advisor to the Secretary and Deputy Assistant Secretary for Retirement and Health Policy, said in a press release. 

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