Advertisement
News Archive
The IRS has updated the procedures for determination letter requests. The new procedures are outlined in Revenue Procedure (Rev. Proc.) 2020-04.
Rev. Proc. 2020-04 is a general update of Rev. Proc. 2019-04, which sets forth:
general information about the types of advice provided by the IRS...
READ MORE
MarketBeat discusses a blog post that argues that required minimum distributions and the Cuban Missile Crisis have a connection.
READ MORE
Tech Talk addresses what happens to a participant’s assets when a 403(b) plan is terminated.
READ MORE
The IRS has said in a recently issued private letter ruling (PLR) that a retirement plan run offered by a charity that is affiliated with a church is a church plan.
In PLR 202001008, which the IRS issued on Oct. 3, 2019 but did not release until Jan. 3, 2020, the IRS addresses whether the...
READ MORE
Brian Graff, CEO of the American Retirement Association, recently chatted with Money Life with Chuck Jaffe to discuss the various benefits of the SECURE Act.
Graff, who’s interviewed by Jaffe for the nearly 20-minute segment, reviews how the SECURE Act will help small businesses offer retirement...
READ MORE
In Part II of the 8th Series of the NTSA WOWcasts, NTSA Past President Randy Aranowitz interviews Frank Owen, President of F.R. Owen & Associates, who served as NTSA President in 2008 and 2009 and was a 2014 Elite Advisor. Owen provides an overview of the compensation business model he uses....
READ MORE
A new year has dawned, bringing into sharper relief that deadlines relevant to 403(b) documents come closer.
Updating Documents
March 31, 2020 is the deadline for 403(b) plans to update their plan documents for all current law.
Revenue Procedure (Rev. Proc.) 2019-39, which became effective Sept...
READ MORE
There’s much good for retirement plans and those who work with them in the Setting Every Community Up for Retirement Enhancement (SECURE) Act, but there are a couple of nuggets of “coal” in there as well.
One such provision that retirement plan advisors, administrators and sponsors should be...
READ MORE
Under the Pension Protection Act of 2006, employers were permitted to automatically enroll employees in a 403(b) salary reduction program under which each employee is deemed to have elected to make an elective deferral contribution into the plan. Because this type of program would cause the...
READ MORE
An employer should establish and follow a formal review process, performed at reasonable intervals, to decide if it wants to continue using the current service providers or look for replacements.
When monitoring service providers, actions to ensure they are performing the agreed-upon services...
READ MORE
Changes are on the horizon regarding required minimum distributions (RMDs), but are not here quite yet.
The IRS has issued a reminder that it may be necessary to take an RMD from an IRA or other retirement account by the end of 2019:
If one is at least age 70½ this year, or
If one has...
READ MORE
The future looks bright, as many Americans are feeling optimistic about their current and future financial situation, and many plan to take proactive steps to help meet their financial goals.
According to Fidelity Investments’ 2020 New Year Financial Resolutions Study, 82% of Americans say they...
READ MORE
Tech Talk addresses whether a “safe harbor arrangement” under Department of Labor (DOL) regulation 29 CFR 2510.3-2(f) must offer participants a reasonable choice of both 403(b) providers and investment products.
READ MORE
In MarketBeat, Nevin Adams writes that late in 2019 we have some answers regarding how expanded access to hardship withdrawals might affect them
READ MORE
To understand a new law, it’s often helpful to read the actual law – especially since, in the case of the SECURE Act, we may well be waiting on IRS and DOL regulations for much of 2020. But what if you want to know what that legislative language actually means?
Either way, Pentgra Senior Vice...
READ MORE
Surveys of small business owners have consistently shown cost to be a significant impediment to the adoption of a retirement plan for employees. Well, the recently enacted SECURE Act has a provision that could really make a difference.
Congress has previously tried to address this concern by...
READ MORE
One of the first universities to find itself targeted in a 403(b) excessive fee suit has asked the nation’s highest court to resolve the threshold for getting to trial.
The suit was not only one of the first of the university 403(b) excessive fee suits to be filed (and yes, by the firm of...
READ MORE
One of my favorite memories growing up was paging through Christmas catalogues – my favorite was the “Wish Book,” it was called – and going through it looking for the things that I hoped Santa, and then later, my parents, would bring.
After struggling for possession of the catalogue, my brother...
READ MORE
The 2019 NTSA publication of the 403(b) Plan Enhancement Guide was one of the tangible results of the PSCA study that examined the savings of public education in more than 4,400 school districts across the country. The Plan Enhancement Guide enumerates ways to increase participation in 403(b) plans...
READ MORE
President Trump signed the Setting Every Community Up for Retirement Enhancement (SECURE) Act into law on Dec. 20.
The bill was tucked into the 1,700 page, $1.4 trillion Further Consolidated Appropriations Act, 2020 (H.R. 1865, as amended) to fund half the government for the remainder of fiscal...
READ MORE
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...