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Not all plan sponsors that offer a 403(b) plan must file a Form 5500; namely, those that are not covered by ERISA. But 403(b) plans that are covered by ERISA must file. And they need to be aware that errors are always possible when one files a Form 5500.
Among the many mistakes that are...
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While next year may seem like a ways off, the IRS has just published the 2021 inflation-adjusted amounts for health savings accounts (HSAs).
In Revenue Procedure 2020-32 the IRS announced that for calendar year 2021, the annual limitation on deductions under Code Section 223(b)(2)(A) for an...
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The Plan Sponsor Council of America (PSCA), part of the American Retirement Association, has awarded Phyllis Borzi, former Assistant Secretary of the Department of Labor, with its prestigious Lifetime Achievement Award for her career-long commitment to preserving retirement savings.
Borzi was...
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The ARA, in a May 18 joint letter with the Investment Company Institute (ICI) to William Evans, Attorney-Advisor at Treasury’s Office of Benefits Tax Counsel, has reiterated several points discussed during a March 24 teleconference concerning in-kind distribution of custodial accounts upon...
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In MarketBeat, John Iekel writes that a variety of factors are at play in preparing for retirement, and there is growing recognition that employee and participant behavior also are key to being ready.
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Know an NTSA member who’s a great community volunteer and a valuable NTSA volunteer?
We know that about 75% of NTSA members are involved in community and governmental service!
Nominate an NTSA member today for the prestigious Richard Ford Volunteer Service Award.
It’s easy. Just give us...
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Tech Talk addresses whether one can take a distribution from a 403(b) before 59½, as long as it’s in the same year.
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New Mexico has joined the list of states that provide a state-run retirement plan safety net. But while the legislation creating the New Mexico Work and Save program has been enacted, the state body that will implement it has some time to get it up and running.
Gov. Michelle Lujan Grisham (D)...
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The $3 trillion bill which passed May 15 includes retirement provisions advocated by the American Retirement Association. While it has already been declared “dead on arrival” in the Senate, that’s not the end of the story.
The House of Representatives approved the “Health and Economic Recovery...
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The American Retirement Association (ARA) in a May 11 letter to Eric Slack, Director of the IRS Office of Employee Plans, has recommended recommend improvements in the interim amendment process for pre-approved plan documents
In December 2019, the letter notes, during a conference call relating to...
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Technology is ubiquitous, and its use has only increased in importance as a means to communicate, meet needs, and reach clients and potential clients. In Part II of a special, two-part NTSA WOWcast series—Cyber Selling and Servicing—NTSA Past President Randy Aranowitz continues his discussion with...
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You have to hand it to the Washington Post. At a time when millions of working Americans are finding a financial lifeline in their retirement savings, they managed to find in the questionable life choices of a half dozen individuals a condemnation of the nation’s private retirement system.
The...
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Using a third-party administrator assures the employer that procedures are in place to comply with the IRS regulations. Further, the TPA assists employers with the ability to comply with the universal availability requirements through educational programs for employees and periodic in-depth notices...
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The Department of Labor’s 2012 final rule to improve transparency of fees and expenses includes a requirement that information be provided to participants that allows them to compare investment options.
The Comparative Format Requirement provides that investment-related information must be...
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A $3 trillion stimulus bill released by House Democrats includes retirement provisions advocated by the American Retirement Association—and a whole lot more—though its passage is anything but certain.
The mammoth 1,800-page bill runs the gamut from providing nearly $1 trillion to state and...
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In response to the logistical challenges created by the Coronavirus pandemic, some states are taking steps to authorize virtual notarization.
Given the unprecedented circumstances and the various notary-based requirements to conduct business transactions in person, these developments could be...
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We need your help in setting the agenda for the 2021 NTSA Summit, which will be held in New Orleans Feb. 21-23, 2021!
You can help shape the conference ranking and contributing topics for the agenda. We launched an innovative online polling tool to compile the best ideas for the 2021 session...
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Part II of a two-part WOWcast series—Cyber Selling and Servicing—is coming. Technology is ubiquitous, and its use has only increased in importance as a means to communicate, meet needs, and reach clients and potential clients. In this special WOWcast series, a panel of exceptional individuals share...
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In a recently updated report, the Congressional Research Service (CRS) highlights and examines the challenges facing the Social Security system.
In “Social Security’s Funding Shortfall” the CRS reports that many people of all ages have some connection to Social Security, which in 2020 includes...
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In MarketBeat, John Iekel discusses a blog entry concerning the unique roles of investment committees and outsourced chief investment officers in pursuing and implementing strategies for the investment of plan assets.
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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...