403b Plans
Tech Talk offers some administrative best practices for a third party administrator, product provider, or plan sponsor in following the rules concerning 403(b) distributions.
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Tech Talk discusses a variety of tips the IRS offers that are relevant to audits in the context of aggregation of 403(b) plans.
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It sometimes helps to go back to the basics when assessing the impact of changes to the law, including some of the most seemingly obscure of them, writes Robert Toth in MarketBeat. He continues that one of the most obscure of 403(b) rules lies in the structural difference between 403(b) and 401(a)...
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Tech Talk discusses what the IRS has to say about aggregation and 403(b) plans.
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With so much change continuing to be in the air, it seems all too rare to be able take the opportunity to step back to broadly reflect on all of these moving pieces. The changes from CARES and SECURE, for example, are just working their way through the system, and now we expect to see SECURE 2.0...
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Tech Talk addresses what must be done in order to be eligible for retroactive correction.
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The IRS on Nov. 21 announced that there will be no changes to the required amendments (RA) for individually designed plans qualified under Code Sections 401(a) and 403(b) for 2022. The IRS made the announcement in Notice 2022-62.
Under Section 5 of Revenue Procedure (Rev. Proc.) 2022-40, in the...
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Whether you are a school business official or a human resources employee of a nonprofit organization, chances are that you are juggling so many responsibilities that your time is at a premium. Knowing deadlines for amending your employer’s 403(b) plan document helps keeps that plan compliant. ...
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Tech Talk discusses what a remedial amendment period enables an employer to do.
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Tech Talk discusses IRS guidance that expands the individually designed retirement plan determination letter program to include certain 403(b) plans.
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The IRS has, effective immediately, expanded the individually designed retirement plan determination letter program to include certain 403(b) plans.
The IRS announced on Nov. 7 in Revenue Procedure (Rev. Proc.) 2022-40 that it will now allow 403(b) retirement plans used by certain public schools...
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“…after meaningful motion practice, discovery, and arm's-length negotiations by experienced counsel, including a private mediation with an experienced neutral mediator,” the parties in an excessive fee suit have come to terms — in less than a year.
The parties here — plaintiffs Trudy Clark, Donna...
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Plaintiffs in one of the first university 403(b) suits to be filed will get their day in court.
The suit against Yale University was one of the first to be filed in this area — and by Schlichter Bogard & Denton LLP, the law firm that led the litigation charge against 401(k) plan fees — in...
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The NTSA is saddened that Eleanor (“Ellie”) Lowder, one of the original pioneers of the 403(b) world, passed away on Sept. 21, 2022.
Born in 1938 in Virden, IL, Ellie was a loving mother and dedicated wife, and in a time in which it was more traditional for women to not enter the workforce, she...
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Feeling SECURE? We’re still fairly new at implementing the first one, and here comes the second. In an Oct. 24 session of the 2022 ASPPA Annual conference, two industry experts offered a deep dive into what part two may portend — and that includes 403(b)s.
“The legislative process is a mystery,”...
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Yet another excessive fee suit has been dismissed for failing to make a “plausible” case.
The plaintiff in this case is Kaila Gonzalez, a participant in the Northwell Health 403(b) Plan, who filed suit against Northwell Health, Inc., the Northwell Health 403(b) Plan Committee, and 10 other...
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Tech Talk discusses what can be done if one finds that one is maintaining a 403(b) plan without the appropriate credentials.
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Fiduciary defendants are pressing for a reconsideration of their motion to dismiss an excessive fee suit, citing new precedent and its higher threshold to bring suit.
The Suit
Here participant-plaintiff Glick had argued (in August 2020) that ThedaCare, Inc. and its Board of Directors violated the...
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Retirement Income! There is a lot of activity, and it’s starting to take into account the needs of clients who are about to retire and who have retired for several decades of a new life chapter — finally! Not just a product and profitability focus — a focus on the diverse reality of real lives of...
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Tech Talk warns of the possible consequences if one maintains a 403(b) plan without the appropriate credentials.
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