News Archive

A majority of Virginia registered voters age 45 and older support a state retirement savings plan, according to a recent survey. Part of the explanation for that may be another of AARP Virginia’s findings: that many of the Virginians coming closer to retirement age do not feel confident regarding... READ MORE

California State Teachers’ Retirement System (CalSTRS) is in trouble, and the state of California responded in 2014 with a measure to restore CalSTRS to health. This is a bitter pill for some school districts, according to recent budget forecasts that show that the contributions some districts make... READ MORE

All disbursements from a retirement plan scheduled to be made at the same time are treated as a single distribution even if they are sent to multiple destinations. That new rule becomes mandatory as 2015 dawns, the IRS has reminded taxpayers in the Dec. 23 issue of its e-newsletter, Employee Plans... READ MORE

Pension payments for state retirees can be withheld when income taxes are insufficient to cover them. This approach, taken by New Jersey Gov. Chris Christie (R), stands as the New Jersey Senate on Dec. 18 voted not to override Christie’s veto of a bill that would have required quarterly... READ MORE

New Years resolutions are still a few weeks away, but employers already have one regarding their retirement plans — improving communication. Most employers sponsoring defined contribution plans — including 403(b) plans — that Towers Watson spoke to in its 2014 North American Defined Contribution... READ MORE

The IRS’ Advisory Committee on Tax Exempt and Government Entities is seeking input from 403(b) plan sponsors, vendors and providers on compliance problems. The committee’s Employee Plans subgroup has set up an online survey to collect comments regarding: the problems sponsors, vendors and... READ MORE

What does the dawn of 2015 mean for 403(b) advisors? NTSA Net asked the 2014 NTSA Elite Advisors for their insights on what advisors and those who offer and administer 403(b)s may expect next year — and how they can be ready. Be Prepared! Boy Scouts learn right from the start to be prepared. It’s... READ MORE

Suppose you have a client who is age is 59½, has not left the employer, and has money in an employer’s 403(b) plan; he would like to move it to the employer’s 457(b) plan. In this week’s Tech Talk, Ellie Lowder tells whether this kind of transfer can be made. READ MORE

Easier to administer, not subject to an early withdrawal penalty tax, offering an opportunity for an advisor to make a living, especially in a small marketplace — what’s not to love about the 457 plan? While most advisors serving the public and nonprofit sectors are very familiar with 403(b) plans... READ MORE