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The pension system of Philadelphia, the 5th largest U.S. city, is an issue in the city’s Democratic mayoral primary, which will be held in May. This is in even sharper focus since two of the candidates are the incumbent, Michael Nutter, and former City Councilman James Kenney, who sponsored...
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A bill that would create a self-managed DC plan as alternative to the DB plan that currently serves Illinois public school teachers is before the Illinois House. Rep. Thomas Morrison (R-Palatine) introduced HB 0426 on Jan. 30.The bill would allow school districts to choose to enter the DC plan for...
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The Virginia House of Delegates on Feb. 6 passed a measure that would allow school districts to establish and administer their own 403(b) plans, and also would allow voluntary and matching contributions under the Commonwealth’s DC plan to be directed to those locally adopted 403(b) plans. HB 2178,...
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It’s not unusual for questions to arise about options for the beneficiaries of 403(b) accounts, including non-spouse beneficiaries’ ability to “stretch” the distributions from the deceased’s account over the beneficiary’s lifetime. In this week’s MarketBeat, Ellie Lowder reviews the basics of...
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There are rules for how to handle inherited IRAs and 403(b)s, but that doesn’t mean questions don’t still arise about that. In this week’s Tech Talk, Ellie Lowder answers further questions regarding inherited IRAs and 403(b)s and the regulations that are the basis for how they are treated.
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The states just got a report card on their teacher pension systems, and many states have work to do. The National Council on Teacher Quality (NCTQ) in “Doing the Math on Teacher Pensions” reports that collectively in 2014, state teacher pension systems had unfunded liabilities amounting to $500...
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Legislation just introduced in the Oregon State Senate brings the Beaver State a step closer to establishing a state-run retirement savings program.The legislation, backed by the Oregon Senate Majority Leader Diane Rosenbaum (D-21st), would create an Oregon Retirement Savings Board tasked with...
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Nominations are now open for the 2015 NTSA Elite Advisor Award!Launched in 2014, the NTSA Elite Advisor Award recognizes the contributions of advisors who — by their actions and example — have advanced best practice standards in the 403(b) and/or 457 retirement industry, and in so doing, have...
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The new IRS position that the one-per-year limit on IRA rollovers applies to all IRAs a taxpayer owns continues to evoke questions. In this week’s MarketBeat, David R. Blask discusses the rule, as well as the changes the IRS made to its Publication 590 to help taxpayers comply and better understand...
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A spouse beneficiary would like to assume ownership of an inherited 403(b) account and then roll his IRA into it. In this week’s Tech Talk, Ellie Lowder tells us whether this is permissible, and answers a follow-up question as well.
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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...