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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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.
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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.
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Lisa Stubbs from Security Benefit was been chosen by a judging committee as one of the inaugural awardees for the Richard Ford Volunteer Service Award. She received the award at the 2020 NTSA Summit in Denver, CO during a moving luncheon awards ceremony.
Stubbs is a Relationship Manager at...
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In Part III of the 9th Series of the NTSA WOWcasts, NTSA Past President Randy Aranowitz interviews Jill Snyder; she discusses what the NTSA means to her.
In Part II, Snyder discusses her clients and her approach to serving them and her efforts to be a mentor.
In Part I, Snyder provides an...
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At the final General Session of the 2020 NTSA Summit, “Leveraging ESG to Take Your Practice to New Heights,” William Burckart, President & COO of the TII Project, introduced the audience to the why, what and how of ESG investing, which integrates the environment, social, and governance factors...
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With the SECURE Act recently enacted and several high-profile issues coming to the fore, 2020 has the potential to be a landmark year, according to a new white paper by MFS.
In “Retirement Outlook 2020,” MFS Senior Retirement Strategist Jonathan Barry and DC Strategist Jessica Sclafani warn that...
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Prior to the technical correction measures in the Job Creation and Worker Assistance Act of 2002, it was necessary to count “non-vested” amounts as contributions in the year vested for purposes of the IRC §415(c) limit. Now, the non-vested contributions will be counted as contributions in the year...
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Plan administrators must determine whether a domestic relations order is a QDRO within a reasonable period of time after receiving the order. What a reasonable period is will depend on the specific circumstances. For example, a domestic relations order that is clear and complete when submitted...
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In MarketBeat, John Iekel discusses a recent article that takes a look at decumulation of retirement funds and argues for a strategic approach.
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Tech Talk addresses whether one can limit what an auditor reviews.
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Designated Roth accounts are becoming more popular in the 403(b)/457(b) marketplace. As a 403(b)/457(b) retirement trainer, it has become apparent in the time I spend on Roth questions, that agents/advisors are hungry for more education on the topic.
As a result, I was eagerly anticipating the...
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OregonSaves, the retirement plan run by the state of Oregon for employees whose employers do not offer retirement benefits, has been in operation for two and a half years. Some data has been coming in regarding participation and its impact, but a recently released paper asserts that it’s too soon...
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A federal judge has ruled on the attorneys’ fees requested by Schlichter Bogard & Denton in a 403(b) university excessive fee suit.
In what he described as a “highly complex case with numerous issues that were vigorously contested,” Judge George Levi Russell III of the U.S. District Court for...
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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...