403b Plans
Are 403(b)s still relevant? An expert panel at an Oct. 3 session of the ERISA 403(b) Advisor Conference held in Washington, DC discussed how they figure in the retirement universe and their future prospects.
Panelists included Sue Diehl, President of PenServ Plan Services, Inc.; Kim Cochrane,...
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Tech Talk discusses whether a particular group of public healthcare districts can maintain 403(b) plans.
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Legislation that could affect retirement plans is pending on Capitol Hill — but the midterm elections loom and the remaining weeks after that will be a “lame-duck” session. But that may not spell doom for those bills, suggested American Retirement Association CEO Brian Graff at the Oct. 3 opening...
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While not yet back to pre-COVID levels, average deferral rates are up, more participants are contributing, more plans are permitting immediate eligibility, and employer contribution rates to 403(b) plans rose almost 24% year-over-year, according to an annual 403(b) Plan Survey from the Plan Sponsor...
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New research finds that households with public-sector defined contribution (DC) plan participants who have a primary defined benefit (DB) plan feel more comfortable spending than those without a primary DB plan, but that comfort level may be short-sighted.
According to the research conducted by...
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The IRS on Sept. 26 in Notice 2022-45 announced that it is extending the deadline by which IRAs and non-governmental 403(b)s must be amended under the CARES Act and the Taxpayer Certainty and Disaster Tax Relief Act of 2020.
CARES Act and Relief Act
Specifically, the deadline is extended under...
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We don’t know all the particulars yet, but a number of pending excessive fee suits have announced settlements.
In a case of good news, bad news, the pace of excessive fee settlements seems to be accelerating (that would be the bad news), but the size of those same settlements seems to be declining...
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Of California’s more than 75 public healthcare districts, a significant number of them maintain Internal Revenue Code (IRC) Section 403(b) plans. The question is: of those that have them, are they “eligible” to have them? We raise this issue because we have become aware of a significant number of...
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The 2023 NTSA Summit — Feb. 26-28, 2023, at the Grand Hyatt Tampa, in Tampa Bay, Florida — is the only industry event designed for 403(b) and 457(b) professionals.
But it gets better!
You can expect tailored general sessions and workshops based on advisor feedback we received from the agenda...
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Tech Talk addresses what documents are especially helpful to keep.
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The July 31, 2022, deadline for restating pre-approved 401(k) plans has come and gone. If a plan missed that deadline, now what? A recent blog entry offers some suggestions.
July 31 was the deadline for the latest plan remedial amendment cycle (Cycle 3). In a recent entry in the JacksonLewis blog...
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The IRS on Aug. 3 announced in Notice 2022-33 that it is extending the deadline for amending a retirement plan to reflect the provisions of Section 2203 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Section 2203 concerns a waiver of required minimum distributions (RMDs). ...
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Tech Talk discusses the pre-approved 403(b) plan procedures the IRS sets in Revenue Procedure (Rev. Proc.) 2021-37.
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Tech Talk provides plan document tips for 403(b) individually designed plans.
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The New York-based firm has agreed to settle alleged fraud charges brought by the Securities and Exchange Commission concerning investor fees.
According to the SEC’s July 18 order, Equitable agreed to pay $50 million for providing account statements to about 1.4 million variable annuity investors...
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Editor’s Note: This is part of an ongoing series that provides a look at content available through the NTSA Advisor’s weekly MarketBeat feature, an archive of which is contained in the Industry Intel section of the NTSA website here. This installment concerns savings and income.
Retirement Income...
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The fiduciaries of yet another university 403(b) plan have been targeted with litigation—and while the allegations are familiar, the plaintiff’s attorney is new.
The suit—filed against both the fiduciaries (and those that appointed them) of the $1.9 billion Northeastern[1] University 403(b) plan...
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A bill before the New Jersey legislature will require that there be multiple vendors for purposes of providing 403(b) plans to certain school districts.
The legislation provides that a board of education of a school district with an enrollment of at least 1,000 students that offers a 403(b) plan...
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The Senate Finance Committee on June 17 released the Enhancing American Retirement Now (EARN) Act—its counterpart to the House-passed SECURE 2.0—a massive piece of legislation that includes a number of key provisions supported by the American Retirement Association.
In fact, the committee has...
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This weekend was, of course, Father’s Day—but my dad’s decision to retire was driven more by time than timing.
Like many of his generation, once he got to 65, it was time to “retire.” He didn’t have a pension (fortunately for him, my mother did), though he had Social Security, and savings in a...
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