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The IRS has issued a reminder that the submission period for 403(b) pre-approved plan providers to submit applications for a Cycle 2 Opinion Letter ends on May 1, 2023.
The IRS in 2022 revised the required modifications and information that contains samples of plan provisions that have been...
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A bill that would allow 403(b)s to invest in collective investment trusts (CIT) could be headed for Congressional markup in the next few weeks.
A draft of the bill, titled “The Retirement Fairness for Charities and Educational Institutions Act of 2023," is backed by House Financial Services...
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Author’s Note: Over the past month this question has been asked by at least a half a dozen advisors, so I thought it would be a good thing to resurrect an article that NTSA ran quite a few years ago.
The Question: What happens when a participant signs a salary reduction agreement to defer into a...
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Editor's Note: This feature in the NTSA Advisor provides a look at what’s going on in the states and the most recent developments in their activity to provide and enhance retirement plan coverage.
Minnesota may join other states that provide retirement plan coverage to private-sector employees...
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Tech Talk discusses the requirement that interested persons must receive notice that an application for an advance determination will be filed regarding whether a 403(b) plan meets the requirements of Internal Revenue Code Section 403(b).
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You may have missed it, but there recently was a mini-financial panic — and it may not be over yet, writes Nevin E. Adams in MarketBeat. He is referring, of course, to the travails of Silicon Valley Bank, or SVB, as it’s been generally referred to.
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The American Retirement Association applauds the Department of Labor’s proposed addition of a self-correction option for delinquent participant contributions and loan repayments under the Voluntary Fiduciary Correction Program (VFCP) but contends that important clarifications are needed for plan...
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Warnings that Social Security’s long-term solvency is questionable are not new. But how about a little good news? A recent analysis suggests that maybe all is not lost.
The glass is half full, argue Kathleen Romig, Director of Social Security and Disability Policy at the Center on Budget and...
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The retirement industry is dynamic, and there are always new developments its professionals must adapt to and consider. An expert panel at the recent NTSA Summit offered some insights into two recent factors having a significant impact on the industry and those it serves.
Panelists included...
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What’s going on in the states? The state Senates of Montana and Vermont are considering bills that would affect retirement plan coverage of teachers and employees whose employers don’t offer a plan.
Editor's Note: This feature in the NTSA Advisor provides a look at what’s going on in the states...
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An excessive fee suit with a “complicated procedural history” and one that a federal judge says “appears to be a lawsuit in search of a theory” has, once again, culminated in a win for the plan fiduciaries.
This time we’re talking about the suit alleging that the Georgetown University 403(b) plan...
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Mark Twain said, “History never repeats itself, but it does often rhyme.” So, tell me if you have seen this before. The Republican Party is ascendent after a mid-term election result that saw them gain the majority in the House of Representatives, which they consider a clear repudiation of the...
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In the post-SECURE Act 1.0 era, plan consultants are becoming more comfortable recommending lifetime income options, but there apparently are potential obstacles with newer solutions, according to a MetLife study that Ted Godbout addresses in MarketBeat.
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Tech Talk discusses the requirement that interested persons must receive notice that an application for an advance determination will be filed regarding whether a 403(b) plan meets the requirements of Internal Revenue Code Section 403(b).
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The IRS has updated information relevant to reporting for 2022 and 2023.
403(b) Reporting
The IRS has updated Publication 939, General Rule for Pensions and Annuities for 2022 reporting. The publication also addresses the treatment of benefits under 403(b) plans and discusses in-plan Roth...
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One of the inevitable results of Congress’ failure to cobble together some sort of compromise on what the most suitable “Securities Fix” would be for the 403(b) CIT is a flurry of activity to find some way to craft a solution which would permit 403(b) plans’ investments in 81-100 trusts without a...
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Tech Talk addresses submitting comments to the IRS regarding whether a 403(b) meets the requirements of Internal Revenue Code Section 403(b).
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This new feature in the NTSA Advisor provides a look at what’s going on in the states and the most recent developments in their activity to provide and enhance retirement plan coverage.
New Utah Law Modifies Match of State Retirement System Employee Contributions
A bill signed into law by Utah...
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Even though the ink is barely dry on the SECURE 2.0 Act, there’s no rest for the weary, as some in Washington are pushing a federal government-run retirement system that would unfairly compete with the private sector, warned Brian Graff on April 2.
Graff, who serves as CEO of the American...
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Social Security continues to face “significant financing issues,” says the Board of Trustees of the federal Old-Age and Survivors Insurance and Disability Insurance (OASDI) Trust Funds in its annual report to Congress. It notes that it has arrived at that finding in prior years.
The Board calls on...
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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...