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The priority guidance plan that the Treasury and IRS have issued for 2023-24 includes plans for action that will affect retirement benefit matters relevant to the education sector. They unveiled the plan on Sept. 29.
The 2023-2024 Priority Guidance Plan contains projects that will be the focus of...
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Analysis of the first state-sponsored retirement plan for uncovered workers—OregonSaves—supports earlier findings that auto-IRAs do, in fact, close the coverage gap.
More specifically, a new paper examined Oregon’s program, started in 2017, which requires employers who did not offer any workplace...
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I fear that by the time you read this, we will be entering a government shutdown or will be moments away from one. Fingers crossed that we can all come together to keep things up and running.
Regardless of that, September has been a very busy month for the NTSA.
Educating the Educators
I am...
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A few years ago, my wife went to a garage sale and bought a box of old books for $25. She came home as excited as I had ever seen her. Why? One of the books was an 1831 edition of The Federalist Papers. We searched online and were thrilled to see an estimated value of $500. Those poor sellers had...
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Benefits play a major role in the employee experience, as most can attest on a personal and professional level, writes Ted Godbout in MarketBeat; but he adds that new research suggests that it’s simply not enough to make benefits available to employees.
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Tech Talk discusses what an employer that offers a 403(b) plan should consider regarding offering a student loan matching contribution program.
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Where do things stand regarding retirement assets and plan participation in the United States? Two agencies give us a look.
Assets
U.S. retirement assets as of New Year’s Eve in 2022 stood at a total of $37.8 trillion, says the Congressional Research Service (CRS) in U.S. Retirement Assets: Data...
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In 2023, CalSavers was beset by the summer doldrums. The CalSavers Retirement Savings Board reports that this last summer, the program grew by some measures, but remained stable or even shrank slightly by others.
Employer registrations were lower at the end of summer than they were at its start;...
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The Student Loan Payment Matching Contribution provision in SECURE 2.0 is one of the most asked-about new features in the law. This is particularly true among our public education clients who are looking for ways to attract and retain teachers, which continues to be a problem for districts...
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The 21st century industrial revolution mass-produces information but also makes it an individual experience, John Iekel writes in MarketBeat. One of the vehicles for that information is apps—but how interested are participants different generations in that form of access?
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Tech Talk discusses the circumstances under which a 403(b) plan may qualify for a safe harbor exemption and, therefore, not be subject to ERISA.
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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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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...