NTSA Net Staff
By NTSA Net Staff 2/9/2015
The Department of Labor’s Employee Benefits Security Administration (EBSA) on Feb. 4 updated five frequently asked questions concerning electronically filing the Form 5500 via the EFAST2 system.Following are the changes EBSA made:The Department of Labor’s Employee Benefits Security Administration (...
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By NTSA Net Staff 2/5/2015
Public pension plans got a chilly start to 2015, according to a recent report by BNY Mellon Investment Strategy and Solutions Group (ISSG) concerning how they fared in January 2015.The assets of a typical plan were virtually unchanged from the month before, falling by a mere 0.1%. ISSG said that...
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By NTSA Net Staff 2/5/2015
The IRS cautions that entering incorrect information — or in some cases, leaving a field blank — on the Form 5500 increases the likelihood of being targeted for a compliance check.The IRS cites the following examples of these types of errors: Sponsors incorrectly entered 0 participants or left...
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By NTSA Net Staff 2/2/2015
Can a client move funds from a 401(k) to two IRAs with two different providers? Do the new rollover rules come into play? In this week’s Tech Talk, Ellie Lowder tells us whether they apply to rollovers from an employer-sponsored plan.
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By NTSA Net Staff 2/2/2015
It is challenging to predict what legislative and regulatory activity may be in store for retirement plans. Nonetheless, in this week’s MarketBeat Linda Segal Blinn offers a look at some of the initiatives to watch this year.
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By NTSA Net Staff 2/2/2015
The IRS on Feb. 2 announced that the addresses it provided for filing applications for 403(b) pre-approved plans are incorrect. It provided those addresses in Revenue Procedure (Rev. Proc.) 2013-22, but also very recently in Rev. Proc. 2015-8.The correct address for applications for 403(b) pre-...
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By NTSA Net Staff 1/26/2015
What a difference a state line can make. Teacher retirement funds in North Dakota seek the state’s assistance to bolster their solvency, a marked contrast to the state of things in neighboring Montana, where the financial condition of teacher retirement plans has rebounded. The North Dakota School...
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By NTSA Net Staff 1/26/2015
There has been a lot of discussion recently regarding the use of exchange-traded funds (ETFs) and self-directed brokerage accounts (SDBAs) in 401(k)s. But what about 403(b)s? In this week’s MarketBeat, Diane D. Capone takes a look at ETFs and SDBAs and the challenges they present to the 403(b) plan...
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By NTSA Net Staff 1/26/2015
Suppose you are a new third party administrator in California, or you are a TPA moving there. In this week’s Tech Talk, Ellie Lowder provides information about the registration requirements for such a TPA.
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By NTSA Net Staff 1/20/2015
A year ago, President Obama touted the voluntary MyRA in his State of the Union Address — but the White House has a lot more to say about retirement this year — and it’s a lot less voluntary. According to a White House fact sheet, the administration is touting a series of retirement tax reform...
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By NTSA Net Staff 1/20/2015
The curtain appears to be far from closing on the drama surrounding the New Jersey pension system. The state's Assistant Attorney General Jean Reilly on Jan. 15 argued before New Jersey Superior Court Judge Mary Jacobson that New Jersey can’t be compelled to make contributions to the state’s...
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By NTSA Net Staff 1/16/2015
Retirement readiness is an increasing concern among 403(b) plan sponsors. In this week’s Marketbeat, Michael Webb examines retirement readiness and argues that while it is not an easy problem to solve, it also is an opportunity for advisors and plan vendors to provide valuable assistance.
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By NTSA Net Staff 1/12/2015
If you work with ERISA plans, you will need to answer questions from employer clients about meeting the mandatory bonding requirements which must cover any employee handling plan assets. In this week’s MarketBeat, Ellie Lowder offers her ideas regarding questions an employer may ask you.
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By NTSA Net Staff 1/12/2015
A client who is being sued by her ex-husband for child support wants to claim financial hardship for legal fees. Would this qualify for hardship withdrawal? In this week’s Tech Talk, Ellie Lowder reviews the safe harbor rules for hardship withdrawals and tells us whether the ex-wife can make that...
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By NTSA Net Staff 1/12/2015
Suppose a school district is considering hiring a retiree older than age 62 and who is collecting Social Security. The district and the employee are trying to find a way to keep the employee’s income from exceeding the Social Security income threshold. In this week’s Tech Talk, Ellie Lowder tells...
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By NTSA Net Staff 1/6/2015
There is further to go in building the solvency of the Colorado public employee pension system and one way to accomplish that is through more cautious investment practices, says state Treasurer Walker Stapleton (R). Stapleton, reelected in November, made his comments in a Jan. 4 interview on...
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By NTSA Net Staff 1/5/2015
How does California Insurance Code Section 770.3 apply to 403b investments through payroll deduction at school districts? Also, does California require a third party administrator (TPA) to be licensed, and is there an associated registry? In this week’s Tech Talk, Ellie Lowder gives us the answers...
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By NTSA Net Staff 1/5/2015
IRS Notice 2014-54 helped eliminate tax consequences on after-tax conversions from a 403(b) plan to Roth accounts. In this week’s MarketBeat, Kimberly Flett points out that there are some positive implications as well as some limitations to such contributions.
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By NTSA Net Staff 1/5/2015
The third quarter of 2014 brought good news and bad news for the 100 largest public pension plans in the United States. The bad news: The Census Bureau reports that their total holdings in cash and security amounted to $3.305 trillion, down from the $3.365 trillion of the second quarter of 2014....
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By NTSA Net Staff 12/30/2014
A majority of Virginia registered voters age 45 and older support a state retirement savings plan, according to a recent survey. Part of the explanation for that may be another of AARP Virginia’s findings: that many of the Virginians coming closer to retirement age do not feel confident regarding...
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