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The ubiquitous coverage devoted to the big boys — 401(k)s and pension plans, as well as little brother 403(b)s — has occupied so prominent a place in the discussion of retirement plans that 457s garner much less attention. And yet, according to a recent report by the National Association of...
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We may be getting a better understanding of when an employer-sponsored plan is considered to be a governmental plan if the employer is a charter school, based on Notice 2015-07. In this week’s MarketBeat, Linda Segal Blinn explains what this guidance means and the impact it could have.
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A church client wonders if it needs to establish a 403(b)(9) retirement income account so the church board can designate post-retirement housing allowances as tax-free distributions. In this week’s Tech Talk, Ellie Lowder tells us if it does.
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State revenues collectively exceeded expenditures in 2013 — the most recent year for which complete data is available — but that didn’t translate to widespread public pension health. In 30 states, public pensions still were underfunded despite the overall fiscal surplus.The U.S. Census Bureau in...
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The Nevada State Assembly is considering legislation that would establish a new retirement plan for new public sector employees and expand all public employees’ choices regarding how their retirement plan funds are invested. The bills, AB 190 and AB 360, both are wending their way through committee...
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Oregon has joined the states that are weighing the establishment of a state retirement plan to cover private-sector employees whose employers do not offer a retirement plan. Following a now-familiar formula, Senate Bill 615 and House Bill 2960 would establish the Oregon Retirement Savings Plan and...
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It’s not just public-sector retirement plan coverage that is generating attention in the Garden State — so is coverage in the private sector. The state Assembly and Senate, still in the midst of the debate over the state’s insolvent retirement plan, now are considering the New Jersey Secure Choice...
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A measure that would reform the California Public Employees’ Retirement System (CalPERS), which serves the retirement funds of more than 3,000 California government employers, may be on the 2016 ballot in the Golden State.Former San Jose Mayor Chuck Reed, who led the 10th largest U.S. city from...
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Time draws short for required minimum distributions (RMDs) from traditional IRAs and employer-provided retirement plans to taxpayers who reached age 70½ in 2014. The IRS on March 19 in IR-2015-55 issued a reminder that the deadline is April 1. The April 1 deadline applies to owners of traditional...
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Securities and Exchange Commission (SEC) Chair Mary Jo White confirmed March 17 that the Commission will “implement a uniform fiduciary duty for broker-dealers and investment advisors where the standard is to act in the best interest of the investor.” The statement, reported by Investment News,...
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If a portion of a minister’s normal wage is declared to be a housing allowance, must it be excluded from plan compensation for purposes of federal tax law? In this week’s Tech Talk, Ellie Lowder tells us.
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You’re one of the decision makers at your organization, and the nondiscrimination rules that apply to employer contributions to retirement plans don’t apply to you and your peers. If that describes you, then you are covered by a top hat plan. In this week’s MarketBeat, Ellie Lowder tells us how...
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The Securities and Exchange Commission should pursue an effort to set new rules for broker-dealers and investment advisors in their work to burnish clients’ pots of gold, March 17 remarks by SEC Chairman Mary Jo White indicated. She made her comments at a meeting of the Securities industry and...
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Your plan sponsor clients just got a little more breathing room on those annual 401(k) plan investment notices.The U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) has announced a direct final rule that provides a two-month grace period for participant-directed...
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The priority guidance plan for 2015-2016 for the Treasury Department and IRS is not yet set in stone. But they are working on it. And in Notice 2015-27, they have invited recommendations on what exactly should be in that plan.The plan will identify projects that the Treasury Department and the IRS...
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The IRS on March 16 in IR-2015-50 issued reminders concerning tax treatment of individual retirement account. Among them is a reminder that there still is time to contribute to an IRA for 2014 and, in many cases, qualify for a tax credit or deduction.Other reminders the IRS issued in IR-2015-50...
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As the White House promotes the Department of Labor’s (DOL) reproposal of the fiduciary rule, Sen. Elizabeth Warren (D-Mass.) took the opportunity March 12 to criticize “brokers on Wall Street” and reinforce the administration’s messaging on the controversial proposed regulation. At a Senate...
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Americans strongly believe in and support saving for retirement. But that doesn’t necessarily mean that they’re saving as much as they are projected to need in order to be financially ready for retirement. The findings of two recent studies illustrate this disconnect.The National Institute on...
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The Retirement Advisor Council (RAC) announced on March 12 that it has developed a template request for proposal (RFP) for institutions of higher education to use in searching for advisors for their retirement plans. RAC makes the template available free of charge and with no copyright restrictions...
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A group of eight Republican senators, including the Chairmen of the Senate Finance Committee and the Senate Committee on Health, Education, Labor & Pensions (HELP), have expressed their concerns about the potential negative consequences for American workers if the Labor Department’s fiduciary...
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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...