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An agent with a product provider insists that an employee can take distribution from his 457(b) plan and roll it over into the same employer’s 403(b) plan; he is under 70 ½ and actively employed with that employer. The agent says there is new guidance making this permissible. In Tech Talk, Ellie...
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Controversy persists in the Tar Heel State over the way information is disclosed — or not disclosed — about how state pension funds are invested and the deals behind those investments. Both houses of the state legislatures are considering bills that would affect such disclosures. Senate Bill 878...
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In nearly half of the states, state pension benefits have changed — often in a way that reduces them. This not only hurts retirement accounts and income, it also heightens a sense of urgency in boosting participation in 403(b)s and 457(b)s in order to bolster employees’ savings. One of the ways to...
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Cash and securities holdings of the 100 largest public employee pension systems in the United States — which account for 89.4 percent of domestic public pension financial activity — grew during the first quarter of 2014, according to the U.S. Census Bureau's Quarterly Survey of Public Pensions....
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The 2014 NTSA 403(b) Summit, held this week in Washington, D.C., got rave reviews from attendees, speakers and exhibitors alike. You can get a taste of the six general sessions and 18 workshop sessions at this year's Summit from our onsite coverage of the event: Staying a Step Ahead...
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The federal government, a purveyor of regulations and legislation, has set before the 403(b) community a veritable blue plate special — and one with a long shelf life to boot. NTSA President Susan Diehl of PenServ Services, Inc., outlined what’s on that plate at NTSA’s 403(b) Summit in Washington,...
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That’s the specific — and implied — message of three experts offering their take on how to increase plan participation. TSA Consulting VP Steve Banks, Hendershot Financial Group’s Tom Hendershot and Teresa Ward, Retirement Plans VP at OppenheimerFunds, made their remarks to attendees at a June 23...
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Relying on the traditional methods for determining a client’s tolerance for risk can be risky in itself, according to Michael Kitces, speaking at the 2014 NTSA 403(b) Summit in Washington, D.C., on June 24. Kitces is a partner and director of research at the Pinnacle Advisory Group. Putting a...
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What do you do that keeps you a step ahead of your competition? Four recipients of NTSA’s inaugural Elite Advisor Award revealed their secret sauce and perspectives on maintaining a high level of success at a special workshop at the 403(b) Summit in Washington, D.C. “If you have better answers...
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The watchword of the day is patience. And detailed preparation. Speaking to a packed room at a June 23 general session of the NTSA 403(b) Summit in Washington, D.C., Kristi Cook, head of an eponymous law firm, and Ellie Lowder, of TSA Consulting, outlined the challenges facing the 403(b) industry...
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Find your passion, advised Kent Schutte, president of EFS Advisors, and build your business around it. Schutte’s breakout session, “Becoming the Go-To Advisor,” was a Day 2 highlight of the 2014 NTSA 403(b) Summit in Washington. “Our company’s passion is educators,” said Schutte. “They’re...
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“High tech and high touch” characterizes the approach of Generations X and Y’ to financial planning and advice. Greenwald & Associates Research Director Lisa Schneider delivered that message to attendees at the NTSA 403(b) Summit on June 23. While younger workers are tech-savvy, they also want...
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“They cannot beat us when we work together!”, NTSA Executive Director Chris DeGrassi exhorted attendees at the June 22 opening general session of NTSA’s 403(b) Summit in Washington, D.C. DeGrassi and Associate General Counsel/Director of Government Affairs Ronald J. Triche provided a summary of...
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Tulane University’s Peter Ricchuiti, the world’s only stand-up comedian currently employed as a professor of economics, paints an optimistic picture of the current and future economy and the resulting impact on the financial markets. Delivering the keynote address of the NTSA 403(b) Summit to a...
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Kristi Cook, co-author of the 403(b) bible, The Source, launched her leadoff workshop session at this year’s NTSA 403(b) Summit June 22 with an anecdote: Her husband, a college professor, asked her if she thought maybe he could retire and what they might need in retirement. So Cook became the...
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The National Tax-deferred Savings Association (NTSA) recognized eight 403(b) plan advisors as recipients of the inaugural “NTSA Elite Advisors Award” at the annual NTSA 403(b) Summit June 22. The award recognizes plan advisors who have done the most to help individual plan participants accumulate...
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Asset International, the company that owns PLANSPONSOR and PLANADVISER, was acquired June 20 by Genstar Capital, a leading middle market private equity firm that focuses on investments in targeted segments of the financial services, software, healthcare, and industrial technology industries....
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A measure that would reform the pension system serving the Keystone State’s public-sector employees is coming closer to a vote. HB 1353, introduced by Rep. Mike Tobash (R-Schuylkill/Berks), would offer a new hybrid plan to new employees and seeks to reduce the burden the system places on...
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In spring 2013, a nationwide wave of class action lawsuits were filed against five large hospital systems claiming affiliation with the Catholic Church. The claims were all the same: The defined benefit pension plans sponsored by the hospitals were not eligible for the church plan exemption under...
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If the holder of a Roth 403(b) is over age 59½ and has held his account for more than five years, is the plan administrator required to withhold 20 percent for federal income tax since the distribution is eligible to be rolled over? In Tech Talk, Ellie Lowder says yea or nay.
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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...