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Prospects for state and local employees’ financial security in retirement are better than that of their private-sector counterparts, according to a new paper from the National Association of Government Defined Contribution Administrators (NAGDCA). Nonetheless, the paper argues, steps still...
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Suppose an employer provides 100% vesting in its 403(b) plan. There is a 60-day wait for the employer match (100%, up to 4%), and an employee needs to work 20 hours per week to qualify for the match. The employer has no highly compensated employees. What type of plan setup could the employer...
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Public school employees can contribute to a 403(b) plan, or to a 457(b) plan. Sounds great, but doing so can have negative ramifications. In this week’s MarketBeat, David Blask notes that these plans differ in several important ways and observes that the determination regarding which plan is...
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The U.S. District Court of the District of Minnesota in its ruling in The City of Farmington Hills Employees Retirement System v. Wells Fargo Bank, N.A., Civil No. 10-4372 DWF/JJG (U.S. District Court of the District of Minnesota) has granted final approval of a $62.5 million settlement in a...
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There is great variation among the states regarding their ability to meet their obligations to current and future retirees from their state and local work forces. The U.S. Census Bureau in its recently released 2013 Survey of Public Pensions: State-Administered Defined Benefit Data highlights...
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There is great variation among the states regarding their ability to meet their obligations to current and future retirees from their state and local work forces. The U.S. Census Bureau in its recently released 2013 Survey of Public Pensions: State-Administered Defined Benefit Data highlights...
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Fitch Ratings says a recent decision by the board of the California Public Employees' Retirement System (CalPERS) will raise funding pressures on public employers. The Sacramento Bee reported that staff at CalPERS, the nation’s largest public pension plan, recommended that the fund’s board...
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With the official report not due until September, a draft report released by the Oregon legislature's Task Force on Oregon Retirement Savings offers a blueprint of a proposed new mandatory auto IRA program for the state. According to a report in the Oregon Statesman-Journal, the proposal calls...
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The 2014-15 budget that North Carolina Gov. Pat McCrory (R) signed into law does more than fund state functions: it also expands state control over state pension fund investments. PI Online reports that the budget provides for 10 new investment staff positions. North Carolina Treasurer Janet...
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What if a public safety employee rolled his distribution from a governmental defined benefit plan into a 457(b) plan and subsequently took a distribution of these dollars — would this distribution be subject to the 10% additional tax? In this week’s Tech Talk, Ellie Lowder tells us whether it would...
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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...