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The Employee Plans Subcommittee of the IRS Advisory Committee on Tax Exempt and Government Entities chose as its 2014-2015 project to reexamine the current state of the 403(b) community seven years after the issuance of the 403(b) final regulations. Specifically, the EP Subcommittee sought to...
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At the 2015 NTSA 403(b) Summit, executives from small, medium and large practices came together to share their best advice for growing businesses of all sizes. And despite the differences in their employers, all of them agreed that nothing matters in this business without a strong reputation.D....
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For sponsors of large ERISA plans — including most ERISA 403(b) plans — with calendar year plans, it’s Form 5500 time. In MarketBeat, Michael Webb seeks to help make the 2014 5500 filing process easier for plan sponsors and those who work with them.
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Take note, 403(b) annuity arrangements, defined benefit plans and defined contribution plans with calendar year plans: July 31 is right around the corner. That’s the day by which most plans must file the dreaded and onerous Form 5500. The clock is ticking on filing the form that reports on 2014....
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At the start of her keynote speech opening the second day of the 2015 NTSA 403(b) Summit, business management speaker Shari Harley stood off to the side of the ballroom, and asked if it was easier for the audience to hear and see her there, or across the room on the stage where everyone was...
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Suppose you have a client who will not have a full 15 years of service until the end of the current year; however, he wants to utilize the 15 years of service increased limit. Must he wait until the following year to do so? In Tech Talk, Ellie Lowder tells us.
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Efforts to stop or roll back the Department of Labor’s proposed fiduciary rule will continue, according to Steve Saxon of Groom Law Group. Saxon made his remarks at the Insured Retirement Institute’s recent Government Legal Regulatory Conference in Washington, D.C.According to zinsurance, Saxon...
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A new resource offering best practices for 403(b) non-ERISA plans is now available. Automatic Enrollment Guide: Best Practices for 403(b) Non-ERISA Plans, a comprehensive resource prepared by NTSA provides information relevant to all stages of providing this means of enrolling 403(b) participants....
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The 10 finalists for the 2015 NTSA Elite Advisor Award, including the five winners, were honored on June 29 during a ceremony at the NTSA 403(b) Summit in Nashville. The five winners of the 2015 award are: Kathryn Cawley of The Voyager Group, Ltd, Joliet, Ill. Louis Deppas of The...
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Nearly three months ago, the Department of Labor (DOL) proposed new standards defining what fiduciary due diligence means. In a session at the NTSA 403(b) Summit in Nashville, NTSA immediate past president Susan Diehl and others explained how the rule affects IRAs and other investment options,...
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From robotic customer service agents programmed to critically think like humans, to phone applications that diagnose medical problems, nearly every facet of the economy is becoming more automated. As a panel explained at the 2015 NTSA 403(b) Summit, retirement plans are no different, and “robo-...
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The earnings that public pension plans have realized, and their holdings, have changed little since the fourth quarter of 2014. That according to the U.S. Census Bureau in its quarterly survey of public pensions during the first quarter of 2015, which it released on June 25. The survey provides...
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America’s growing retirement crisis has been gaining attention in the past few years at both the state and federal levels. One commonly suggested remedy has been automatic enrollment, a trend that is now affecting state-sponsored plans across the country. Speaking at a session held on the first...
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Do you have participants who separated from service after 2007 and who have a deferred vested benefit under a 403(b) plan you sponsor? If so, do you have to report them on the Form 9855-SSA? The IRS says you do not. It explains that a plan sponsor is not required to report a separated...
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Questions can arise concerning the definition of severance of employment, which can be an important issue to determine regarding whether pre-59½ 403(b) or pre-70½ 457(b) participants are eligible to make withdrawals from their accounts. In MarketBeat, Ellie Lowder digs deep into the issues that...
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Is having language in administrators’ employment contracts sufficient legal authority for a school district to adopt and implement a 401(a) plan, or is an additional governing board resolution needed to establish legal authority for the plan? In Tech Talk, Ellie Lowder tells us.
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While highlighting a number of recent state-level victories on behalf of individual 403(b) advisors, NTSA Executive Director Chris DeGrassi kicked off the 2015 NTSA 403(b) Summit in Nashville June 28 by emphasizing that the biggest battles still loom at the federal level.DeGrassi told a packed...
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The Social Security Administration (SSA) has announced that it has adopted a final rule that revises its government pension offset (GPO) regulations. The rule will be effective on July 15. The final regulations are a revision of the language of a notice of proposed rulemaking (NPRM) the SSA issued...
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Nominations are now being accepted for the American Retirement Association’s 2016 Board of Directors. Elected at-large members of the Board of Directors serve for one term of three calendar years. Nominees must be nominated by at least two members to be considered. To view the nomination form,...
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The National Tax-deferred Savings Association (NTSA) has announced the winners of its prestigious NTSA Elite Advisor Award. It made the announcement at a June 29 session of its 2015 403(b) Summit in Nashville, Tenn. Established in 2014, the NTSA Elite Advisor Award recognizes the contributions of...
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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...