Fiduciary Rules and Practices
What does the dawn of 2015 mean for 403(b) advisors? NTSA Net asked the 2014 NTSA Elite Advisors for their insights on what advisors and those who offer and administer 403(b)s may expect next year — and how they can be ready. Be Prepared! Boy Scouts learn right from the start to be prepared. It’s...
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Easier to administer, not subject to an early withdrawal penalty tax, offering an opportunity for an advisor to make a living, especially in a small marketplace — what’s not to love about the 457 plan? While most advisors serving the public and nonprofit sectors are very familiar with 403(b) plans...
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The SEC has issued its 2014 Agency Financial Report, in which it outlines the actions it undertook in 2014 and its goals for 2015. Investment News notes that the report is vague about whether the SEC will propose a new uniform fiduciary standard in FY 2015, which began Oct. 1, 2014. “In FY 2015,...
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Suppose an employer provides 100% vesting in its 403(b) plan. There is a 60-day wait for the employer match (100%, up to 4%), and an employee needs to work 20 hours per week to qualify for the match. The employer has no highly compensated employees. What type of plan setup could the employer...
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Funds held in inherited IRAs are not retirement funds and must be included in a bankruptcy estate, the U.S. Supreme Court ruled June 12. The Court’s 9-0 ruling in Clark v. Rameker, No. 13-299 (U.S. 6/12/14), aff’d 714 F.3d 559 (7th Cir. 2013)) was definitive in drawing a distinction between...
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The funded status of public- and private-sector pension plans is a classic example of bad news/good news. To wit: Some states’ pensions are in bad shape, but funding of public-sector pension plans overall is improving; corporate pensions’ funded status fell in April, but only very slightly. State...
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