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News Archive
If you made an error with IRA contributions or discover one, there still is time to correct them. But not much time—the deadline for fixing those mistakes is Oct. 16, 2023.
Among the errors that could cause someone to seek to make an adjustment, observes Sarah Brenner, Director of Retirement...
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The NTSA is a champion of choice in the public education market segment.
Over the years the NTSA’s advocacy for maintaining multi-provider relationships in public education 403(b) plans tended to be reactionary (i.e., when a school district issues an RFP seeking a single provider solution). The...
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Registration is open for the 2024 NTSA Summit! The conference—Feb. 25-27 in San Diego, CA—is the only industry event designed for 403(b) and 457(b) professionals. But that’s not all! It will include:
Tailored general sessions, workshops, and up to 12 continuing education (CE) credits
A...
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Social Security—often cited as a “third rail”—has been a staple of the retirement landscape for almost 90 years. But that doesn't mean that it’s free of misconceptions; in MarketBeat, John Iekel discusses a recent commentary that highlights some to avoid.
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Tech Talk discusses which agencies other than the Department of Labor and its Employee Benefits Security Administration have a role in regulating and overseeing 403(b) plans or investment options provided to participants.
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Any retirement fund invests its funds in some way to help them grow, and that includes those run by states. A look at how CalSavers handles the investment of its funds sheds some light on how one of the largest state-run retirement plans fosters growth of their funds.
Assets
CalSavers had assets...
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The Department of Labor (DOL) sent a new version of a proposed fiduciary rule to the Office of Management and Budget (OMB) late Sept. 8 for review.
Known officially as “Conflict of Interest in Investment Advice,” it would redefine fiduciary investment advice under ERISA.
According to a post on...
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CalSavers has expanded the range of services for which it is seeking professional assistance.
On Sept. 5, CalSavers issued an RFP (request for proposals) announcing that it is seeking a contractor to provide investment consulting services. CalSavers, the state-run program that provides retirement...
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Think you’ve taken care of everything with your 457 plan? Maybe you have—but maybe you haven’t.
In the second of a two-part series in the Trucker Huss “The Benefit of Benefits” blog, Scott E. Galbreath discusses more common mistakes he has encountered in 457 plans that exempt organizations (EOs)...
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Taking action in advance to protect vital documents can be helpful when a disaster strikes, a principle that applies to retirement plans and administration as well as other records and functions, writes John Iekel in MarketBeat.
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Tech Talk discusses the kinds of 403(b) plans that are not subject to ERISA.
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Starting a state-run program could result in private-sector employers dropping their existing retirement benefit plans, warned some soothsayers. Not so, says an industry expert.
Kim Olson, Senior Officer of the Pew Charitable Trusts’ Retirement Savings Project took issue with such doom and gloom...
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The two top Republican lawmakers serving on the House and Senate committees with jurisdiction over ERISA have called on the Department of Labor (DOL) to halt any further changes to the definition of fiduciary.
The Aug. 31 letter from Rep. Virginia Foxx (R-NC), who is chair of the House Education...
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The American Retirement Association (ARA) was recently informed of a legal scheme in Texas—a community property state—that allows younger workers to raid up to 100% of their defined contribution (DC) plan (such as a 401(k), 403(b) or 457 plan) account balance without incurring the tax penalty for...
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The month of August has come and gone. This may be one of the slower months of the year when it comes to legislative activities: there are currently only eight states whose legislatures are in session and Congress is on recess for the month. BUT—that didn’t stop us from moving some things forward...
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Tech Talk discusses the kinds of 403(b) plans that are covered by ERISA.
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Compounding the problem of low financial literacy is “low longevity literacy,” or a lack of understanding of how long people tend to live in retirement, writes John Sullivan in MarketBeat. He discusses research that found that a staggering number of Americans display low longevity literacy, which...
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The Maine Retirement Savings Program is getting closer to implementation. The Maine Retirement Savings Board has proposed a rule that would set the nuts and bolts of program operation.
Gov. Janet Mills (D) signed the Act To Promote Individual Retirement Savings through a Public-Private...
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Almost 26,000 New York Life customers had their names and Social Security numbers exposed to a data breach, the latest in a massive hack that affected hundreds of companies and millions of Americans.
The hack occurred in late May and involved Progress Software, the provider of MOVEit transfer...
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Robinhood’s bid to undo the Bay State’s fiduciary rule holding broker-dealers to the same standard as investment advisers hit a roadblock after the state’s high court reversed a lower court’s ruling that the Massachusetts Secretary of Commonwealth lacked authority to adopt the rule.
The Aug. 25...
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Recent Comments
Does the roth requirement for catch-up contributions for people who earned $145,000 apply to 457...
Hi Ed,
I really liked this article and I think you make a lot of sense. And I had no...
I believe there's a misstatement in that last quote - it should refer to governmental and...
Working with several medical providers as clients, I note that the high-end earners tend to push...
Congratulations to NTSAA for landing a good one. Nathan's breadth of experience and...