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The IRS has issued the draft instructions for the 2020 IRS Forms 1099-R and 5498: Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. But these instructions are only drafts, and are not to be used for actual filing. The information to be... READ MORE
Add child care payments to the mix of items that policymakers are considering as a way to help individuals save for retirement in their DC plans. And 403(b) and 457(b) plan participants are among those whom the bill could affect.   Introduced Feb. 10 by Reps. Ann Wagner (R-MO) and Hakeem Jeffries... READ MORE
The Securities and Exchange Commission (SEC) is putting sales of 403(b) plans to teachers under its scrutiny. Where did this come from? And what does it mean?   In June 2019, the SEC announced two new initiatives that it said built on its ongoing efforts to protect retail investors: The Teachers... READ MORE
In MarketBeat, Nevin Adams writes that a recent Issue Brief by EBRI, provides a reminder of the need to be careful about blind reliance on data, even from a credible source, that looks suspicious. READ MORE
Tech Talk addresses where on the Form 5500SF one enters data concerning a representative’s (broker/dealer) commissions. READ MORE
Another state legislature is moving forward with a state-run retirement savings program for private sector employees—this time in the form of an open MEP.   Introduced by Delegates Hala Ayala (D-Prince William) and Ibraheem Samirah (D-Fairfax/Loudoun), the Virginia House of Delegates on Feb. 6... READ MORE
A session of the recent 2020 NTSA Summit provided an in-depth look at 457 plans.   Mark Heisler, Chief Executive Officer of ADMIN Partners, LLC, shared his insights on 457 deferred compensation plans, which offer many benefits to both sponsors and participants. Here are nine things he suggested... READ MORE
Following up on a recent meeting with the Department of Labor, the American Retirement Association has outlined a number of items requiring additional guidance under the SECURE Act.   In the Feb. 12 letter, ARA recommended that the items listed below be the subject of DOL guidance, in the... READ MORE
The American Retirement Association has outlined a number of high priority clarifications needed following passage of the SECURE Act.   In a letter dated Feb. 12, the ARA submitted to Carol Weiser, Benefits Tax Counsel at the U.S. Department of the Treasury, a list of “certain issues related to... READ MORE
The impact of the SECURE Act—the most significant retirement-related legislation in more than a decade—is well-known in many respects. Among the lesser-known impacts of the new law are those on 403(b) plans. A Feb. 11 NTSA webinar discussed them.   Andrew Remo, the American Retirement Association... READ MORE
A great session at the recent 2020 NTSA Summit featured speakers who addressed what plan sponsors are concerned about and how to better serve them. Speakers included Scott Hayes from the advisor side of the industry; Mark Heisler, representing the TPAs; and Jack Towarnicky, coming from the... READ MORE
Non-ERISA 403(b) plans are exempt from the ERISA Section 408(b)(2) requirements. It’s important to distinguish the difference between an ERISA and non-ERISA plan.   A basic definition of ERISA vs. non-ERISA includes the employer’s involvement.   In an ERISA plan, an employer chooses the... READ MORE
Employer contributions (contributions that are not salary reduction contributions), generally can be deposited any time up to the employer’s tax filing due date (including extensions). For tax-exempt employers, the deadline for employer contributions is 4½ months after the end of the employer’s tax... READ MORE
In Part I of the 10th Series of the NTSA WOWcasts, NTSA Past President Randy Aranowitz interviews Bruce Allen, CFP, president of Old Dominion Insurance and Investments; they discuss Allen’s background and Allen provides an overview of his business. NTSA WOWcasts are available on the NTSA website... READ MORE
Donna Caloia from Lincoln Investment was chosen by a judging committee as one of the inaugural awardees for the Richard Ford Volunteer Service Award. She received this award during a moving luncheon awards ceremony at the 2020 NTSA Summit in Denver. Caloia served as the Chair of the NTSA Summit... READ MORE
Lost participants and required minimum distributions (RMDs) can both create complications for a plan and its administrators and sponsor. But together they create a mix that can exacerbate the stress and urgency they already can engender independent of each other. A recent blog entry suggests how... READ MORE
It isn’t easy to take money from a retirement plan account, and there are specific criteria regarding under what circumstances and how that can take place. In a session of the recent 2020 NTSA Summit, Emily Oglesby, Advanced Markets Consultant, Technical Services for Voya Financial, offered an... READ MORE
During the recent 2020 NTSA Summit, Susan Diehl updated attendees on a number of changes resulting from the Dec. 20, 2019 enactment of the SECURE Act.   Diehl’s discussion included changes affecting qualified charitable distributions (QCD) from IRAs. For tax years beginning 2020, there is no... READ MORE
In MarketBeat, Ted Godbout discusses a webcast that examines whether the SECURE Act’s provisions that seek to foster greater adoption of guaranteed lifetime income products by DC plans and participants  will be enough. READ MORE
Tech Talk addresses whether a teacher who is retiring from the state public school system and who has elected a partial lump sum from the state retirement system can establish a 403(b) account post-employment to receive the rollover from the state retirement system. READ MORE

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