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A statistic for 403(b) sponsors to ponder: An IRS official says that when the agency audits 403(b) plans, it discovers issues 80% of the time. And the IRS is hiring still more staff to audit 403(b) and 457(b) plans. In this week’s MarketBeat, Linda Segal Blinn discusses the five issues the IRS most...
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Can a school that is affiliated with a church use a 401(k) plan, and be a non-electing church? Or is that option only available with a 403(b)? In this week’s Tech Talk, Ellie Lowder discusses whether it is possible and how ERISA and the Internal Revenue Code apply in such a circumstance.
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The Nutmeg State is looking for public comments on the feasibility of a state-sponsored retirement plan for all private sector employees. Connecticut State Comptroller Kevin Lembo (D) and State Treasurer Denise Nappier (D), who co-chair the Connecticut Retirement Security Board (CSRB) created...
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This webcast has been rescheduled. The new date is yet to be determined. Speakers: Molly Hamer, EFS Advisors; Chris DeGrassi, Executive Director, NTSA; Jeffrey Tomaneng, Lincoln Investment Planning; Mark Luckinbill, Aspire Financial Services; Matthew McBay, GWN Securities Webcast...
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Public pensions can be fair game when a city government declares bankruptcy under federal law, the federal judge overseeing Stockton, Calif.’s bankruptcy has ruled.U.S. Bankruptcy Judge Christopher Klein on Oct. 8 ruled that the U.S. Constitution’s Supremacy Clause trumps California’s public...
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They say when you have your health, you have just about everything, and a new study seems to bear that out — and that includes being financially ready for retirement.Healthier employees feel more prepared when it comes to having a financial plan, saving enough for retirement to last a lifetime and...
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Retirement plans and health benefits are different things and serve different purposes. Nonetheless, they can intersect functionally — and retirement accounts and health savings accounts (HSAs) are a prime example, as a BenefitsPro report observed recently.Like retirement accounts, HSAs are tax-...
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State pension plans, long beleaguered and adrift in a sea of red, may have turned a corner. A report by LifeHealthPRO says that data from Bloomberg show an increase in the states’ ability to meet their pension requirements. A slight increase, but an increase nonetheless.Bloomberg found that the...
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A new white paper by the Conference of Consulting Actuaries’ Public Plans Community (CCAPPC) targeted to actuaries and retirement boards examines the development of actuarial funding policies and practices. The paper is based on more than two years of extensive and detailed funding policy...
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ERISA plans are using auto enrollment more frequently to increase participation. ERISA supersedes state statutes, but what about when ERISA does not apply? In this week’s MarketBeat, Ellie Lowder discusses whether auto enrollment is for non-ERISA plans too.
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A plan participant who works for a school district has been contributing to an annuity. He starts working for another, and would like to use the same annuity for that district’s contributions. You are an approved vendor for both plans and can easily switch the annuity from one district to the other...
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The fiscal pressure that public pension plan obligations exerts on state governments is not going away, a recently released report cautions. The Cato Institute expects that the cost of those plans will be a major driver of state budgets.Cato’s “Fiscal Policy Report Card on America’s Governors 2014...
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If a church that sponsors a 403(b)(1) annuity and 403(b)(7) custodial account has a minister who is self-employed, can he participate in the church’s 403(b) plan? In this week’s Tech Talk, Ellie Lowder tells us.
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Most 403(b) non-ERISA plans do not include employer matching contributions, which may decrease motivation for employees to enroll. But are there other ways to increase participation in such plans? In this week’s MarketBeat, Ellie Lowder has good news — there are, and she discusses them.
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Differences in workforce composition — not costs — appear to be a primary cause for the lower rate at which small employers sponsor retirement plans, according to a new report. As a group, the characteristics of small-firm employees differ substantially from the characteristics of large-firm...
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Looking ahead and applying the lessons of the past can help in running a practice. And a panel of experts is ready to share their insights with you on how they built successful practices in an NTSA webcast on Friday, Oct. 10 from noon to 12:50 p.m. ET. The webcast will be hosted by David Blask...
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Friday, November 14, 2014 12 p.m. - 1 p.m. ET Speakers: Molly Hamer, EFS Advisors; Chris DeGrassi, Executive Director, NTSA; Jeffrey Tomaneng, Lincoln Investment Planning; Mark Luckinbill, Aspire Financial Services; Matthew McBay, GWN Securities...
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The digital world offers public — not just private — plans revolutionary means to communicate, store and share data. But using it in a responsible and ethical manner is as important as it is challenging, as Lauren Bloom, an expert on professional ethics and risk management, pointed out in the...
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Though markets averaged a 7.45% return from 2004-2012, unfunded liability of public pension funds tripled — to just under $2 trillion — over that same period, according to a recent Moody’s report. Along with trying to recover from the recent recession, public entities are simply not providing...
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Though markets averaged a 7.45% return from 2004-2012, unfunded liability of public pension funds tripled — to just under $2 trillion — over that same period, according to a recent Moody’s report. Along with trying to recover from the recent recession, public entities are simply not providing...
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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...