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Funds held in inherited IRAs are not retirement funds and must be included in a bankruptcy estate, the U.S. Supreme Court ruled June 12. The Court’s 9-0 ruling in Clark v. Rameker, No. 13-299 (U.S. 6/12/14), aff’d 714 F.3d 559 (7th Cir. 2013)) was definitive in drawing a distinction between...
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The Millennial generation views benefits, especially retirement plans, very differently than older generations do — a trend that will reshape key aspects of the relationships among participants, plan sponsors and advisors. In a fascinating article in the latest issue of Benefits Quarterly magazine...
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Many sobering reports have been issued regarding the degree to which U.S. workers are preparing — or not — for retirement. The Bipartisan Policy Center’s (BPC) Personal Savings Initiative (PSI) may not be the first effort that seeks to help turn the tide of poor savings rates, but it has heft and...
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If a client is age 72, and has worked for three years for an employer that offers a 457(b) plan, what are the rules regarding when he can retire with an unreduced benefit? In Tech Talk, Ellie Lowder explains what he needs to do and whether any catch-up contributions are possible.
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How can a plan participant determine how much can safely be withdrawn from an account after retirement? What is your clients’ risk tolerance? Find out at the 2014 NTSA 403(b) Summit, to be held in Washington, D.C., June 22–24. Michael Kitces, a financial planner, commentator, speaker and...
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The U.S. Supreme Court issued its decision in U.S. v. Windsor — in which it said that retirement plans must treat a same-sex spouse just they would any other spouse for purposes of benefits under the retirement plan — one year ago, on June 26, 2013. That makes this an opportune time for Ellie...
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The federal government and U.S. workers agree that the Affordable Care Act (ACA) — a.k.a. Obamacare — will affect the timing of retirements. However, IFAwebnews reports that there’s a wide gap between what the government and many workers expect that effect to be, according to a survey conducted...
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Simplified investment platforms are becoming more common for 403(b) plans, and target date funds are among the most widespread investment options, according to the Plan Sponsor Council of America’s sixth annual 403(b) plan survey. The Principal Financial Group sponsored the study. Aaron Friedman...
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Have you ever been elbow-to-elbow with the energy and free-flowing successful solutions of the very best in our industry? For the first time ever, yes, you can be! NTSA brings you the inaugural NTSA Elite Advisors Awards on Sunday, June 22, 2014 at 2:15 p.m., right after the lively “State of the...
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State pensions have been in the news a lot lately, and not always in a good way. The ways in which states meet the challenges of providing pensions for their employees are as numerous and varied as the states themselves. In the latest MarketBeat, Michael A. Webb takes a state-by-state look at what...
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If a teacher remains employed within the state, but by a different school district, could the teacher be considered to be still employed by the same employer? Ellie Lowder has the answer in this week’s Tech Talk.
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More often than not, employees who obtain investment advice do not follow it. And that’s among those who bother to seek it in the first place. The Employee Benefit Research Institute’s 2014 Retirement Confidence Survey suggests that advisors have some work to do in boosting plan participants’...
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While assets in IRAs are larger than those in DC plans, the vast majority of their growth comes from rollovers, according to research from EBRI. The EBRI database covers $2.09 trillion of the ICI-estimated $5.6 trillion in IRAs as of the end of 2012 and includes 25.3 million accounts for 19.9...
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In order to help your plan participants maximize their savings, you have to know how to best read and navigate the financial markets. The NTSA 403(b) Summit, to be held June 22 - 24 in Washington, D.C., will provide a unique opportunity to benefit from the insights of Peter Ricchiuti, a professor...
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If a worker receives Social Security benefits before normal retirement age and earned more than $15,120 in 2013 through part-time employment, can he contribute the balance above that figure to his 403(b) so as to avoid the loss of Social Security benefits? Ellie Lowder has the answer in this week’s...
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Have you made a mistake in administering your 403(b) plan? Does this mistake put you at risk of IRS action? If so, you are not alone — not only in the sense that others have made mistakes, but also because the IRS has updated its 403(b) Plan Fix-It Guide, a resource that tells plan sponsors how to...
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Editor's Note: The corresponding MarketBeat article has been removed. The IRS took the industry by surprise with the definition of severance of employment (specifically for public school districts) contained in the Listing of Required Modifications (LRMs) posted in March 2013 to provide guidance on...
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In a recent speech in Washington, New Jersey Gov. Chris Christie (R) laid the groundwork for moving more state workers into a blended 401(k)/DB plan to fill a $807 million hole in the state’s $33 billion budget. Currently, the state’s retirement plan is underfunded by an estimated $51 billion, the...
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Some states and cities have found that cutting cost-of-living adjustments (COLAs) to the pensions they provide their employees is a way to loosen the financial vise of pension liabilities and a shaky economy. The Center for Retirement Research of Boston College in its recent study, “COLA Cuts in...
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Change is coming to the “once each 12 months” rule for indirect IRA-to-IRA rollovers. The federal Tax Court, in Bobrow vs. Commissioner of Internal Revenue Service, held that you can’t make a non-taxable rollover from one IRA to another if you have already made a rollover from any IRA that you own...
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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...